Description

NSE notifies restoration of listing for Gammon India Limited per SAT order dated February 19, 2026, changing the company's status from 'Delisted' to 'Suspended' effective February 25, 2026.

Summary

NSE has issued a circular notifying that the Hon’ble Securities Appellate Tribunal (SAT), Mumbai, via its order dated February 19, 2026, has directed NSE to restore the listing of Gammon India Limited. As a result, the company’s status will change from ‘Delisted’ to ‘Suspended’ effective February 25, 2026. This reverses the earlier delisting action communicated via circular NSE/CML/61943 dated May 08, 2024.

Key Points

  • SAT Mumbai directed NSE to restore the listing of Gammon India Limited vide order dated February 19, 2026.
  • The company’s status will change from Delisted to Suspended with effect from February 25, 2026.
  • This circular supersedes/follows up on NSE circular NSE/CML/61943 dated May 08, 2024, which originally delisted the company.
  • The circular was issued by the Listing Department under Download Ref No: NSE/CML/72956, Circular Ref No: 2026/0188.

Regulatory Changes

The status of Gammon India Limited on NSE is being changed from ‘Delisted’ to ‘Suspended’ pursuant to a judicial/quasi-judicial order from the Securities Appellate Tribunal. The SAT’s directive overrides the earlier delisting action by NSE, partially restoring the company’s presence on the exchange under suspended status.

Compliance Requirements

  • NSE members are notified to take note of the change in status of Gammon India Limited from ‘Delisted’ to ‘Suspended’.
  • No immediate trading activity is permitted as the stock will be under ‘Suspended’ status, not active trading status.
  • Members should update their records and systems to reflect the revised listing status effective February 25, 2026.

Important Dates

  • May 08, 2024: Original delisting circular NSE/CML/61943 issued.
  • February 19, 2026: SAT Mumbai order directing NSE to restore listing.
  • February 23, 2026: This circular issued by NSE.
  • February 25, 2026: Effective date of status change from ‘Delisted’ to ‘Suspended’.

Impact Assessment

This is a significant development for shareholders of Gammon India Limited. The SAT order restoring the listing status signals a legal victory for stakeholders who challenged the delisting. However, the stock will remain in ‘Suspended’ status rather than active trading, meaning investors still cannot freely trade shares. Market participants and existing shareholders should monitor further NSE communications regarding conditions for lifting the suspension and resumption of normal trading. The reversal of a delisting is an uncommon regulatory event with potential implications for price discovery once trading resumes.

Impact Justification

SAT tribunal order mandates NSE to reverse a prior delisting decision, directly altering the trading status of Gammon India Limited and affecting shareholders and market participants.