Activation of ISIN by NSE

24 March 2025

According to Regulation 19 of the SECC Regulations, no one can acquire or hold equity shares or voting rights in a recognized stock exchange or clearing corporation unless they meet the 'fit and proper' criteria. Regulation 20 details the criteria for being considered 'fit and proper' to hold shares in a recognized stock exchange. To comply with these regulations, NSE has kept its International Securities Identification Number (ISIN) temporarily suspended.

To help with compliance and to monitor the rules regarding minimum public shareholding and other limits, the Securities and Exchange Board of India issued a circular on October 14, 2024. This circular establishes a framework for monitoring shareholding norms for MIIs, requiring them to appoint a Designated Depository for this oversight.

In line with this, the Board of Directors of NSE has appointed Central Depository Services (India) Limited (CDSL) as the Designated Depository and has agreed to activate or unfreeze the Company’s ISIN. This activation will happen on Monday, March 24, 2025. From that date, shares of the Company can be transferred using the Delivery Instruction Slip (DIS) system. The current process for submitting share transfer applications will end.

The Company is compiling a list of transactions that are still in progress and will be completed through Corporate Action. These will not be processed again using the DIS method. For cases that have been received but are incomplete, they may still be processed through the DIS system. The Company will send email updates with details about these transactions to the relevant parties soon.​