Representatives of regional stock exchanges are meeting SEBI on August 7 to discuss the compulsory exit plan for those with less than Rs 1,000 crore turnover. A SEBI circular dated May 30 had said that exchanges with less than Rs 1,000 crore turnover will be compulsorily derecognised if they did not apply for exit voluntarily.
These exchanges had been given two months time to apply for exit. Failure to apply within two months would lead to compulsory de-recognition, SEBI had said.
Companies listed exclusively on these exchanges have two options. The first is to list with a nationally present stock exchange. If a company fails to obtain listing under the first mode, it would be traded through a dissemination board set up by stock exchanges which have national network.