Description
BSE announces that the delisting of Gammon India Ltd. (scrip code 509550) has been rescinded pursuant to an order by the Securities Appellate Tribunal, with status changing from 'Delisted' to 'Suspended' effective November 6, 2025.
Summary
BSE has informed that pursuant to an order issued by the Hon’ble Securities Appellate Tribunal, the delisting of Gammon India Ltd. (scrip code 509550) stands rescinded. The company’s status will be changed from “Delisted” to “Suspended” effective November 6, 2025. As a result, the provisions of Regulation 24(1) and Regulation 24(2) of the SEBI (Delisting of Equity Shares) Regulations, 2009 are no longer applicable to the company.
Key Points
- Delisting of Gammon India Ltd. (scrip code 509550) has been rescinded by order of the Securities Appellate Tribunal
- Company status will change from “Delisted” to “Suspended” effective November 6, 2025
- Regulation 24(1) and 24(2) of SEBI Delisting Regulations, 2009 are not applicable to the company
- Notice issued by BSE Listing Compliance on November 3, 2025
Regulatory Changes
The Securities Appellate Tribunal’s order has resulted in the rescission of Gammon India Ltd.’s delisting. This reverses the previous delisting action and changes the regulatory framework applicable to the company. Specifically, Regulation 24(1) and Regulation 24(2) of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009, which govern post-delisting obligations and procedures, are no longer applicable to Gammon India Ltd.
Compliance Requirements
- BSE will implement the status change from “Delisted” to “Suspended” in its systems
- The company will now be subject to compliance requirements applicable to suspended securities rather than delisted securities
- Shareholders and market participants should note the changed status for any corporate actions or trading considerations
Important Dates
- November 3, 2025: Notice issued by BSE
- November 6, 2025: Effective date for status change from “Delisted” to “Suspended”
Impact Assessment
Market Impact: The rescission of delisting is a significant development for Gammon India Ltd. and its shareholders. While the company’s status changes to “Suspended” rather than fully active trading, this represents a reversal of the delisting process and may provide shareholders with future opportunities depending on further regulatory or tribunal actions.
Shareholder Impact: Existing shareholders who held shares during the delisting process may see a change in the regulatory treatment of their holdings. The suspended status indicates that while trading remains halted, the company maintains its listing status on BSE.
Regulatory Impact: The tribunal’s order overriding the delisting demonstrates the appellate mechanism in securities regulation and may have implications for other similar cases. The exemption from SEBI Delisting Regulations 24(1) and 24(2) changes the compliance landscape for the company.
Impact Justification
High importance due to reversal of delisting status through tribunal order, directly affecting shareholders and trading status of Gammon India Ltd. High impact as it changes company's regulatory status and exempts it from specific SEBI delisting regulations.