Brightcom Group Shares Re-listing: Important Update For All Shareholders

Brightcom Group shares have been suspended from regular trading for nearly 7 months and has outlined a detailed plan for the re-listing of its shares on the stock exchanges. However, a specific timeline for the re-listing is yet to be announced.

In a separate exchange filing, Brightcom Group confirmed that it has met all the compliance requirements set by the exchanges. The company has updated its shareholding pattern for all pending quarters and declared financial results for those periods, along with the annual report for the financial year 2023. Additionally, the company conducted its Annual General Meeting (AGM) for FY 2023 in November this year.

Brightcom Group has paid the penalties levied by the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for delays in compliance, as stated in the filing.

Next Steps in the Re-listing Process

The exchanges will now verify all the submitted documents and filings to ensure full compliance. This will include conducting a site visit to assess the company’s operational and regulatory readiness. However, no specific timeline for the site visit has been provided.

Once the verification process is completed, the exchange will issue a circular announcing the date when Brightcom Group shares will resume trading.

Special Pre-Opening Session (SPOS) For Re-listing

The re-listing of Brightcom Group shares will occur through a Special Pre-Opening Session (SPOS), as per exchange rules. This session will take place between 9:00 AM and 10:00 AM and will be divided into three stages, with only limit orders allowed during this time.

1. Order Entry (9:00 AM – 9:45 AM): Investors can place, modify, or cancel their limit orders within this window.
2. Order Matching (9:45 AM – 9:55 AM): The exchanges will match the limit orders to determine the opening price. Price discovery and trade confirmations will take place during this phase.
3. Transition to Regular Markets (9:55 AM – 10:00 AM): The discovered opening price will serve as the reference price for the regular market, and trading will begin at 10:00 AM.

Price Bands and Trading Limits

A price band will be set for the re-listed shares, ranging from 85% lower to 50% higher than the base price, which is the last traded price before the suspension. At present, Brightcom Group shares are classified under the ‘Z’ group or Trade-for-Trade category, meaning they are only traded on the first trading day of the week, with a 5% circuit limit in place.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.