bombay stock exchange

Introduction
Bombay Stock Exchange Limited, established in 1875 as the "Native Share and Stock Brokers' Association" is one of the oldest stock exchanges in Asia. BSE provides an efficient market, upholding the interests of the investors. It strives to educate and enlighten the investors by making the necessary information available to them. All market related information is available on its website (www.bseindia.com).

Department of Investor Services
Protecting the interest of the investors dealing in securities is one of the main objectives of BSE.
In pursuit of this objective, Department of Investor ' Services was set up in 1986. The grievances of investors against listed companies and BSE Trading Members are redressed by BSE. BSE also assists in the arbitration process both, between Trading Members interest and between Trading Members and non - Trading Members. The capital market can grow only when investors find it safe for them to invest and they are assured that the rules governing the market are fair and just to all the players. With a view to ensure speedy and effective resolution of claims, differences and disputes between Trading Members inter-se and between Trading Members and non - Trading Members, BSE has laid down a set of procedures for arbitration thereof. These procedures are duly embodied in the Rules, Bye-laws and Regulations of BSE, which have been duly approved by the Government of India / Securities and Exchange Board of India (SEBI).

Safeguards' for Investors'
These are some of the safeguards the investors should keep in mind before trading in the securities market.

1. Selecting a Broker/ Sub - Broker: - Deal only with a SEBI registered Broker / Sub - broker after due diligence.
2. Details of the BSE Brokers can be obtained from the Member's List published by BSE and from the website.
3. Entering into an Agreement
4. Fill in a Client registration form with the Broker / Sub – broker.
5. Enter into Broker / Sub - broker - Client Agreement. This agreement is mandatory for all investors for registering as a client of a BSE Trading Member. Ensure the following before entering into an agreement:
6. Carefully read and understand the terms and conditions of the agreement before executing the same on a valid stamp paper of the requisite value.
7. Agreement to be signed on all the pages by the Client and the Member or their representative who has the authority to sign the agreement.
8. Agreement has also to be signed by the witnesses by giving their names and addresses.
9. Please note that Regulatory Authorities have not stipulated for execution of any document other than Broker/ Sub - Broker / Client Agreement.
10. Transacting: - Specify to the Broker / Sub - broker, the exchange through which your trade is to be executed and maintain separate account for each exchange.
11. Obtain a valid Contract Note from the Broker / Sub-broker within 24 hours of the execution of the trade.

Contract note is a confirmation of trade(s) done on a particular day for and on behalf of a client in a format prescribed by BSE. It establishes a legally enforceable relationship between the Trading Member and his Client in respect of settlement of trades executed on BSE as stated in the Contract Note.

Contract Notes are made in duplicate, and the Trading Member and Client, both keep one copy each. The Client is expected to sign on the duplicate copy of the Contract Note, confirming receipt of the original.

Contract Note - Form 'A' - Contract Note issued where Member is acting for constituents as brokers/ agents.
Contract Note - Form 'B' - Contract Note issued by Members dealing with constituents as principals.
Ensure that the Contract Note contains:

1. SEBI registration number of the Trading Member/ Sub – broker
2. Details of trade such as, Order no, trade no., trade time, quantity, price, brokerage, settlement number, details of other levies.
3. Trade price should be shown separately from the brokerage charged.
4. The maximum brokerage that can be charged is Rs. 0.25 per share/debenture or 2.5% of the contract price per share / debenture which ever is higher.
5. This maximum brokerage is inclusive of the brokerage charged by the sub-broker (Sub-brokerage cannot exceed 1.5% of the contract price.)
6. Any additional charges that a Trading Member can charge are Service Tax on the brokerage, any penalties arising on behalf of client and Securities Transaction Tax (STT).

7. The brokerage, service tax and STT are required to be indicated separately in the Contract Note.
8. Signature of authorised representative.


Arbitration clause stating that the Courts in Mumbai shall have exclusive jurisdiction in respect of all proceedings to which the Exchange is a party, and in respect of all other proceedings, the Courts having jurisdiction over the area in which the respective Regional Arbitration Centre is situated, shall have jurisdiction, must be present on the face of the Contract note.

Settlement
Ensure delivery of securities /payment of money to the broker immediately upon getting the Contract Note for sale / purchase but in any case, before the prescribed pay-in-day.
Member should pay the money or securities to the investor within 24 hours of the payout.

Open a Demat account.
Opt for buying and selling shares in demat form.

1. For delivery of shares from demat account, give the Depository Participant (D P) 'Delivery out' instructions to transfer the same from the beneficiary account to the pool account of broker through whom shares and securities have been sold.

2. The following details to be given to the DP: details of the pool a/c of broker to which the shares are to be transferred, details of scrip, quantity etc. As per the requirement of depositories the 'Delivery out' Instruction should be given atleast 48 hours prior to the cut-off time for the prescribed securities pay-in.

3. For receiving shares in your demat account, give the Depository Participant (D P) 'Delivery in' instructions to accept shares in beneficiary account from the pool account of broker through whom shares have been purchased.

4. If physical deliveries are received check the deliveries received as per Good/Bad delivery guidelines issued by SEBI.

5. Bad delivery cases should be sorted out through BSE mechanism immediately.

6. Ensure that all registration of physical shares for ownership by transfer should be executed by a valid, duly completed and stamped transfer deed.

Rights of Investors

1. To receive all benefits/ material information declared for the investors by the Company.
2. Prompt services from the Company such as transfers, Sub-divisions and consolidation of holdings in the Company.
3. As an equity holder have a right to subscribe to further issue of capital by the Company.
4. Brokerage not to exceed 2.5% of the contract price.
5. Receipt of the Contract Note from the broker in the specified format showing transaction price, brokerage, Service Tax and STT, separately.
6. Expect delivery of shares purchased/value of shares sold within 24 hours from pay-out.
7. Approach concerned Regional Arbitration Centers of BSE , by confirming geographical jurisdiction .

Detail of regional arbitration centers
The Complaint against trading members of the Exchange or Applications for Arbitration should be filed at the concerned Regional Arbitration Centre referred to in column 1 below covering that State or Union Territory of India, referred to in Column 2 below, within which the most recent address / registered office address of the constituent, as duly communicated in writing to the trading member in accordance with law, is located. Provided in respect of a non-resident Indian Constituent, the Seat of Arbitration shall be Regional Arbitration Center which covers the States and Union Territories given in Column 2, in which lies the address or the Registered Office address, as the case may be, of the trading member, depending upon corporate or non-corporate membership of the trading member. The hearings shall be held in the concerned Regional Arbitration Centre in which the Applicant had duly filed the Application for Arbitration

Column 1 Column 2
Regional Arbitration Centres States and Union Territories covered by the Regional Arbitration Centres
Bombay Stock Exchange Limited
Regional Office – North,
7th Floor, Mercantile House
K G Marg
New Delhi - 110 001.
Telephone Number:011-41510481
Telefax No.:011-41510480
E-mail Id: iscdelhi@bseindia.com ; ritesh.kumar@bseindia.com
Delhi, Haryana, Uttar Pradesh, Uttaranchal, Himachal Pradesh, Punjab, Jammu & Kashmir, Chandigarh, Rajasthan
Bombay Stock Exchange Limited
Regional Office – East,
1st Floor, Kishor Bhaban
17, R. N. Mukherji Road
Kolkata –700 001
Telephone Number:033-22133184,
Telefax No.:033-22130530
E-mail Id: isc.kolkata@bseindia.com; anirban.guha@bseindia.com
West Bengal, Bihar, Jharkhand, Orissa, Assam, Arunachal Pradesh, Mizoram, Manipur, Sikkim, Meghalaya, Nagaland, Tripura, Chhattisgarh
Bombay Stock Exchange Limited
Regional Office – South,
4th floor, Exchange Building
No. 11, Second Line Beach
Chennai – 600 001
Telephone Number:044-42163999
Telefax No.:044-42164999
E-mail Id: iscchennai@bseindia.com;
s.periyasamy@bseindia.com
Andhra Pradesh, Karnataka, Kerala, Tamilnadu, Andaman & Nicobar, Lakshadweep, Pondicherry.
Bombay Stock Exchange Limited
Regional Office – West,
Department of Investor Services,
P J Towers, 1st floor, Dalal Street,
Fort, Mumbai – 400001.
Telephone Number: 022-22721233/34
Fax No.: 022-22723677
E-mail Id: crasto@bseindia.com
Maharashtra, Gujarat, Goa, Daman & Diu, Dadra & Nagar Haveli, Madhya Pradesh


JURISDICTION OF COURTS
The Courts in Mumbai shall have exclusive jurisdiction in respect of all proceedings to which the Exchange is a party, and in respect of all other proceedings, the Courts having jurisdiction over the area in which the respective Regional Arbitration Centre is situated, shall have jurisdiction.

General DO's and DON'Ts for Investors
More and more investors are investing / trading in the stock markets than ever before. It is therefore imperative for the investors to follow some DOs and DON'Ts while dealing in the stock market.
Given below are some general DOs and DON'Ts for investors:

DOs:-
1. Always deal with the market intermediaries registered with SEBI / stock exchanges.
2. Collect photocopies of all documents executed for registration as a client, immediately on its execution. Ensure that the documents or forms for registration as Client, are fully filled in.
3. Give clear and unambiguous instructions to your broker / agent / depository participant.
4. Always insist on contract notes from your broker. In case of doubt in respect of the transactions, verify the genuineness of the same on the BSE website.
5. Always settle the dues through the normal banking channels with the market intermediaries.
6. Before placing an order with the market intermediaries, please check about the credentials of the companies, its management, fundamentals and recent announcements made by them and various other disclosures made under various regulations. The sources of information are the websites of Exchanges and companies, databases of data vendor, business magazines etc.
7. Adopt trading / investment strategies commensurate with your risk-bearing capacity as all investments carry some risk, the degree of which varies according to the investment strategy adopted.
8. Carry out due diligence before registering as client with any intermediary. Carefully read and understand the contents stated in the Risk Disclosure Document, which forms part of the investor registration requirement for dealing through brokers.
9. Be cautious about stocks which show a sudden spurt in price or trading activity, especially low price stocks.
10. There are no guaranteed returns on investment in the stock market.
11. Always keep copies of all investment documentation (e.g. application forms, acknowledgements slips, contract notes).
12. Always keep copies of documents you are sending to companies, Trading Member, Registrar and Transfer Agent, etc.
13. Send important documents by a reliable mode (preferably through registered post) to ensure delivery.
14. Ensure that you have money before you buy.
15. Ensure that you are holding securities before you sell.
16. Follow up diligently and promptly e.g. If you do not receive the required documentation within a reasonable time, contact the concerned person; i.e. the Trading Member, company etc., immediately.
17. Mention clearly whether you want to transact in physical mode or in demat mode.
18. Lodge your complaint or Arbitration Application against the Trading Member, at the concerned Regional Arbitration Centre, by confirming geographical jurisdiction. Please use for the purpose, your address as intimated to your Trading Member by following due process of law. The details of geographical jurisdiction of each Regional Arbitration Centre are also available on the Contract Note.
19. The period consumed in redressal of complaint thru IGRC services will not be considered while measuring period of ‘limitation’ in filing arbitration application provided the complaint and / or arbitration application is / are filed at the concerned Regional Arbitration Centre.
20. Lodge your complaint against a company listed on BSE, at the concerned Regional Arbitration Centre, by confirming geographical jurisdiction. Please use your address for deciding the geographical jurisdiction. This will enable to process the complaint expeditiously.

DONTs :-
1. Don't deal with unregistered brokers / sub - brokers, or other unregistered intermediaries.
2. Don't execute any documents with any intermediary without fully understanding its terms and conditions.
3. Don’t file your grievance/s and / or arbitration application against trading member, in the Regional Arbitration Centre having no geographical jurisdiction.over the matter.Please use for the purpose, your address as intimated to your Trading Member by following due process of law
4. The Exchange redresses investors’ complaints thru arbitration and IGRC mechanism, which are quasi-judicial in nature. The period consumed in redressal of complaint thru IGRC will not be considered while measuring period of ‘limitation’ in filing arbitration application provided the complaint is filed at the concerned Regional Arbitration Centre.
5. Don’t file your grievance /s against companies listed on BSE, in the Regional Arbitration Centre having no geographical jurisdiction over the matter, for its expeditious redressal.Please use your address for deciding the geographical jurisdiction.
6. Don't deal based on rumours or 'tips'.
7. Don't fall prey to promises of guaranteed returns.
8. Don't get misled by companies showing approvals / registrations from Government agencies as the approvals could be for certain other purposes and not for the securities you are buying.
9. Don't leave the custody of your Demat Transaction slip book in the hands of any intermediary.
10. Don't get carried away with advertisements about the financial performance of companies in print and electronic media.
11. Don't blindly follow media reports on corporate developments, as some of these could be misleading.
12. Don't blindly imitate investment decisions of others who may have profited from their investment decisions.
13. Don't forgo obtaining all documents of transactions, in good faith even from people whom you know.
14. Don't forget to take note of the risks involved in an investment.
15. Don't get misled by guarantees of repayment of your investments through post-dated cheques.
16. Don't hesitate to approach concerned persons and then the appropriate authorities.
17. Don't get swayed by promises of high returns.


BSE has installed a Toll Free line 1800 22 6663 at which the investors can inform on any specific lead with regard to any type of undesirable trading practices in any scrip or any type of market aberration observed by them. Investors are requested to get their messages recorded in English or Hindi. Identity of the investor will be kept confidential.
Brokerage & Stamp Duty

BSE has not prescribed any minimum brokerage, and hence the same is negotiable. Though the maximum brokerage allowed is 2.5% percent of the contract price, the brokerage generally charged by the Members is much lower. A Member may have different scales of brokerages for delivery transactions, trading transactions and the like.

The present duty for equity shares transfer is 25paise for every Rs.100 or part thereof, on the amount of consideration while the duty for transfer of debentures varies from state to state, applicable on the basis of the location of the registered office of the concerned issuing company.

Investor Awareness & Education
Investor Awareness Program
Investor Awareness Programs are being regularly conducted by BSE at various places in the country to educate the investors and to create awareness among the investors regarding the capital market and in particular the working of the stock exchanges.

The Investor Awareness Programs cover topics like DOs and DON'Ts for investors, Instruments of Investment, Portfolio approach, Mutual funds, Trading, Clearing and Settlement, Rolling Settlement, Investors' Protection Fund, Trade Guarantee Fund, Dematerialisation of Shares, Debt Market, Investors' Grievance Redressal system available with SEBI, BSE & Company Law Board, information on Sensex and other Indices, Derivatives etc.

BSE also takes initiatives through:
1. BSE Training Institute (BTI) which organises investor education programs periodically on various subjects like Capital Markets, Fundamental Analysis, Technical Analysis, Derivatives, Index Futures and Options, Debt Market etc. For the Derivatives market, BTI conducts BCDE i.e. BSE's certification on Derivative Exchange, a certification test recognized by the SEBI. For details, please contact : BSE Training Institute, 18th Floor, P.J.Tower, Dalal Street, Mumbai - 400001.

2. BSE's official Website : www.bseindia.com which is the focal point for information dissemination. It updates the investors with the latest information on the stock market on a daily basis through real time updation of statistical data on market activity, corporate information and results. Educative articles on various products and processes are also available on the site.

3. Publications: BSE regularly comes out with publications for investor education on various products and processes.

Investor Service Centres
BSE Investor Service Centre, Delhi

BSE Investor Service Centre
Floor 7, Mercantile House,
Kasturba Gandhi Marg
New Delhi - 110 001.

Contact Persons : P. R. Prasad / Ritesh Kumar / Rhunjhun Lall
phone : 011- 41510968, 41510481
Telefax : 41510480

E-mail : iscdelhi@bseindia.com


BSE Investor Service Centre, Kochi

BSE Investor Service Centre
4th Floor, M.E.S.
Dr.P.K. Abdul Gafoor Memorial Culture Complex,
Judges Avenues, Kaloor
Kochi - 682017.

Contact Persons : Sumith C. S.
Phone. : 0484-2405275
Telefax : 0484 - 2405276

E-mail : isccochin@bseindia.com


BSE Investor Service Centre, Kolkata

BSE Investor Service Centre
1st Floor, Kishor Bhavan
17, R. N. Mukherji Road,
KOLKATA - 700001

Contact Persons : Purushottam Saraf / Anirban Guha /Sanjeev Kumar Jaiswal
Phone : 033 - 22133184
Telefax : 033 -22130530
E-mail : isc.kolkata@bseindia.com


BSE Investor Service Centre, Ahmedabad

BSE Investor Service Centre
804, Corporate House,
Ashram Road
Ahmedabad - 380 009

Contact Persons : Anoop Dwivedi / Malav Chokshi
Phone : 079 - 2754 0445
Telefax : 079 55610755
E-mail : isc.ahemedabad@bseindia.com

BSE Investor Service Centre,Chennai

BSE Investor Service Centre
4th floor,Exchange Building,
No.11,Second Line Beach,
Chennai - 600 001.

Contact Persons : Vishnu Vardhan / S. Periyasamy / Guru Prashad
Phone : 044 - 42163999
Telefax : 044 - 42164999
E-mail : iscchennai@bseindia.com

BSE Investor Service Centre, Rajkot

BSE Investor Service Centre

401, 4th Floor, Aalap - B,
Limda Chowk,
Opp. Shastri Maidan
Rajkot - 360 001

Contact Persons : Kartik Bavishi
Phone : (0281) 6595542
Telefax : 0281 - 2464348
E-mail : iscrajkot@bseindia.com

Quotation Files in database format (dbf)
Rates of scrips traded (Group A+B1+B2+F) (with volume)
The rates include open, high, low and close prices of all the scrips traded and also no. of trades,
volume and value of shares traded.
Annual subscription Charges - Rs 15,000
Timings - 5.30 p.m. to 7.30 p.m. (Monday to Friday)

Dissemination of Daily Notices and circulars of the BSE
Installation and maintenance charges for first six months -
For members of BSE Rs. 1,500
For non-members Rs. 5,000
Please make the payment by cheque/demand draft in favour of Bombay Stock Exchange Ltd and send to the Research and Information Dept, BSE, P.J. Towers 25th Floor, Dalal Street, Mumbai 400 001.

CONTACT
For further information/clarification, please contact:
Business Development, BSE
Phone : 2421233/4 Extn :8390


Given below are some general DOs and DON'Ts for investors

Dos
1. Bombay Stock Exchange is the oldest stock exchange in Asia with a rich heritage of over 133 years of existence. What is now popularly known as BSE was established as "The Native Share & Stock Brokers' Association" in 1875.
2. BSE is the first stock exchange in the country which obtained permanent recognition (in 1956) from the Government of India under the Securities Contracts (Regulation) Act (SCRA) 1956. BSE's pivotal and pre-eminent role in the development of the Indian capital market is widely recognised. It migrated from the open out-cry system to an online screen-based order driven trading system in 1995. Earlier an Association Of Persons (AOP), BSE is now a corporatised and demutualised entity incorporated under the provisions of the Companies Act, 1956, pursuant to the BSE (Corporatisation and Demutualisation) Scheme, 2005 notified by the Securities and Exchange Board of India (SEBI). With demutualisation, BSE has two of world's prominent exchanges, Deutsche Börse and Singapore Exchange, as its strategic partners.
3. Over the past 133 years, BSE has facilitated the growth of the Indian corporate sector by providing it with cost and time efficient access to resources. There is perhaps no major corporate in India which has not sourced BSE's services in raising resources from the capital market.
4. Today, BSE is the world's number 1 exchange in terms of the number of listed companies and the world's 5th in handling of transactions through its electronic trading system. The companies listed on BSE command a total market capitalization of USD Trillion 1.06 as of July, 2009. BSE reaches to over 400 cities and town nation-wide and has around 4,937 listed companies, with over 7745 scrips being traded as on 31st July 09.
5. The BSE Index, SENSEX, is India's first and most popular stock market benchmark index. Sensex is tracked worldwide. It constitutes 30 stocks representing 12 major sectors. The SENSEX is constructed on a 'free-float' methodology, and is sensitive to market movements and market realities. Apart from the SENSEX, BSE offers 23 indices, including 13 sectoral indices. It has entered into an index cooperation agreement with Deutsche Börse and Singapore Stock Exchange. These agreements have made SENSEX and other BSE indices available to investors across the globe. Moreover, Barclays Global Investors (BGI), at Hong Kong, the global leader in ETFs through its iShares® brand, has created the exchange traded fund (ETF) called 'iShares® BSE SENSEX India Tracker' which tracks the SENSEX. The ETF enables investors in Hong Kong to take an exposure to the Indian equity market.
6. The exchange traded funds (ETF) on SENSEX, called "SPIcE" and Kotak SENSEX ETF are listed on BSE. They bring to the investors a trading tool that can be easily used for the purposes of investment, trading, hedging and arbitrage. These ETFs allow small investors to take a long-term view of the market.
7. BSE provides an efficient and transparent market for trading in equity, debt instruments and derivatives. It has always been at par with the international standards. The systems and processes are designed to safeguard market integrity and enhance transparency in operations. BSE is the first exchange in India and the second in the world to obtain an ISO 9001:2000 certification. It is also the first exchange in the country and second in the world to receive Information Security Management System Standard BS 7799-2-2002 certification for its BSE On-line Trading System (BOLT).
8. BSE continues to innovate. In 2006, it became the first national level stock exchange to launch its website in Gujarati and Hindi and now Marathi to reach out to a larger number of investors. It has successfully launched a reporting platform for corporate bonds in India christened the ICDM or Indian Corporate Debt Market and a unique ticker-cum-screen aptly named 'BSE Broadcast' which enables information dissemination to the common man on the street.
9. In 2006, BSE launched the Directors Database and ICERS (Indian Corporate Electronic Reporting System) to facilitate information flow and increase transparency in the Indian capital market. While the Directors Database provides a single-point access to information on the boards of directors of listed companies, the ICERS facilitates the corporates in sharing with BSE their corporate announcements.
10. BSE also has a wide range of services to empower investors and facilitate smooth transactions:

Investor Services:
The Department of Investor Services redresses grievances of investors. BSE was the first exchange in the country to provide an amount of Rs.1 million towards the investor protection fund; it is an amount higher than that of any exchange in the country. BSE launched a nationwide investor awareness programme- 'Safe Investing in the Stock Market' under which 264 programmes were held in more than 200 cities.

The BSE On-line Trading (BOLT): BSE On-line Trading (BOLT) facilitates on-line screen based trading in securities. BOLT is currently operating in 25,000 Trader Workstations located across over 359 cities in India.

BSEWEBX.com: In February 2001, BSE introduced the world's first centralized exchange-based Internet trading system, BSEWEBX.com. This initiative enables investors anywhere in the world to trade on the BSE platform.

Surveillance: BSE's On-Line Surveillance System (BOSS) monitors on a real-time basis the price movements, volume positions and members' positions and real-time measurement of default risk, market reconstruction and generation of cross market alerts.

BSE Training Institute: BTI imparts capital market training and certification, in collaboration with reputed management institutes and universities. It offers over 40 courses on various aspects of the capital market and financial sector. More than 20,000 people have attended the BTI programmes.

Awards
The World Council of Corporate Governance has awarded the Golden Peacock Global CSR Award for BSE's initiatives in Corporate Social Responsibility (CSR).
The Annual Reports and Accounts of BSE for the year ended March 31, 2006 and March 31 2007 have been awarded the ICAI awards for excellence in financial reporting.
The Human Resource Management at BSE has won the Asia - Pacific HRM awards for its efforts in employer branding through talent management at work, health management at work and excellence in HR through technology

Recently,BSE launched the BSE IPO index that will track the value of companies for two years after listing. Also, as an investor friendly gesture, Bombay Stock Exchange has commenced a facility of sending trade details to investors. Moving a step further a new transaction fee structure for cash equity segment has also been introduced. BSE also launched ‘BSE StAR MF’ Mutual fund trading platform, would enable exchange's members to use its existing infrastructure for transaction in MF schemes. It is an inclusive model with two depositories and industry wide participation. BSE also revamped its website; the new website presents a wide range of new features like ‘Live streaming quotes for SENSEX companies’, ‘Advanced Stock Reach’, ‘Sensex View’, ‘Market Galaxy’, and ‘Members’.

Drawing from its rich past and its equally robust performance in the recent times, BSE will continue to remain an icon in the Indian capital market

Notice no : 20100419-4
Notice date : Monday, April 19, 2010 1:12:27 PM
Subject : Listing of new debt securities of Share Microfin Limited
Category : Company related
Segment Name Debt

Contents :

Trading Members of the Exchange are hereby informed that with effect from Tuesday, April 20, 2010 under mentioned new securities issued on private placement basis Share Microfin Limited are admitted to dealing on the Exchange in the list of securities of F GROUP - DEBT INSTRUMENTS
1) Securities Description Unsecured Redeemable Subordinated Non Convertible Debentures (Series III) issued on private placement basis of Rs.10,00,000/- each fully paid up.
Quantity 1000
Market Lot 1
Scrip Code 946640
Scrip ID on the Bolt System SML31MAR10
Detail Name on the Bolt System SML-13.75%-31-3-18-PVT
ISIN Number INE973K08014
Credit Rating ICRA LBBB
Face Value Rs.10,00,000/-
Rate of Interest 13.75% p.a
Date(s) of Payment of Interest YEARLY
10/03/2011 To 31/03/2018
Actual/Deemed Date of allotment 31/03/2010
Date of Redemption 31/03/2018
Put / Call option NA


The trading members may also note as under:

a) The aforesaid securities of the company will be traded only in dematerialised form under the ISIN as mentioned above.
b) The trading shall take place in standard denomination of Rs.10 Lakhs
c) The tick size for the securities is 1 paise

The Registrars and transfer agent is:
Karvy Computershare Pvt Limited
Unit: Reliance capital Limited
Plot No.17-24,Vittal Rao Nagar,
Madhapur,Hyderabad-500081

In case the trading members require any clarification they may please contact Ms. Shilpa Pachori on 22728352 or undersigned on 22728052

Scrip Code Name of the Company Offer Type Maximum Buyback Price(Rs.) Total Aggregate Amount
(Rs. crores) Start + Date End ++
Date
500003 Aegis Logistics
Open Market Purchase 143.00 17.00 14 Aug 2009 8 Jul 2010
523694 Apcotex Inds
Open Market Purchase 90.00 4.00 21 Dec 2009 15 Oct 2010
513729 ARO Granite
Open Market Purchase 55.00 6.00 29 Jun 2009 7 Jun 2010
512296 Bhagyanagar India
Open Market Purchase 40.00 20.00 4 Nov 2009 18 May 2010
526731 Bright Bros
Open Market Purchase 50.00 5.00 29 Dec 2009 25 Jun 2010
526821 Daiichi Kark
Open Market Purchase 36.00 21.00 25 May 2009 27 Apr 2010
500126 Merck
Open Market Purchase 435.00 45.00 10 Jun 2009 19 May 2010
513228 Pennar Inds
Open Market Purchase 40.00 13.00 15 Sep 2009 26 Apr 2010

+ Start date refers to date from which the company intend to start Buyback.
++ End date refers to latest closing date.

Companies that previously offered buyback

Introduction
The capital market comprises of equities market and debt market. Debt market is a market for the issuance, trading and settlement in fixed income securities of various types. Fixed income securities can be issued by a wide range of organizations including the Central and State Governments, public bodies, statutory corporations, banks and institutions and corporate bodies

Introduction to Fixed Income Instruments
Fixed Income securities are one of the most innovative and dynamic instruments evolved in the financial system ever since the inception of money. Based as they are on the concept of interest and time-value of money, Fixed Income securities personify the essence of innovation and transformation, which have fueled the explosive growth of the financial markets over the past few centuries.

Fixed Income securities offer one of the most attractive investment opportunities with regard to safety of investments, adequate liquidity, flexibility in structuring a portfolio, easier monitoring, long term reliability and decent returns. They are an essential component of any portfolio of financial and real assets, whether in the form of pure interest-bearing bonds, varied type of debt instruments or asset-backed mortgages and securitised instruments.

Fixed Income Markets - Powering the World

The Fixed Income securities market was the earliest of all the securities markets in the world and has been the forerunner in the emergence of the financial markets as the engine of economic growth across the globe. The Fixed Income Securities Market, also known as the debt market or the bond market, is easily the largest of all the financial markets in the world today. The Debt Market has, as such, a very prominent role to play in the efficient functioning of the world financial system and in catalyzing the economic growth of nations across the globe.

Indian Debt Market - Pillars of the Indian Economy
The Debt Market plays a very critical role for any growing economy which need to employ a large amount of capital and resources for achieving the desired industrial and financial growth. The Indian debt market is today one of the largest in Asia and includes securities issued by the Government (Central & State Governments), public sector undertakings, other government bodies, financial institutions, banks and corporates. The Indian debt markets with an outstanding issue size of Government securities (Central and state) close to Rs.13,474 billion (or Rs. 1,34,7435 crore) and a secondary market turnover of around Rs 56,033 billion (in the previous year 2007) is the largest segment of the Indian financial markets.(Source RBI & CCIL).

The Government Securities (G-Secs) market is the oldest and the largest component of the Indian debt market in terms of market capitalization, outstanding securities and trading volumes. The G-Secs market plays a vital role in the Indian economy as it provides the benchmark for determining the level of interest rates in the country through the yields on the government securities which are referred to as the risk-free rate of return in any economy.

Transformations in the Market Structure


The Indian Debt Markets are today poised on the threshold of momentous change and transition to an efficient, transparent and vibrant market with significant retail participation. The first half of the twentieth century had witnessed a significant amount of retail interest and participation in the G-Sec market with more than half the holdings of G-Secs issued being held by retail investors, a trend which continued until the early sixties. The administered interest rate regime and the emergence of other equity and debt instruments led to a gradual diminution in the investor interest and participation in the G-Sec market

The Indian Debt Market structure was hitherto that of a wholesale market with participation largely restricted to the Banks, Institutions and the Primary Dealers. The rapidly expanding volumes in the Wholesale Debt Market over the past few years bear the promise of an immense and attractive financial market with a strong potential for retail participation. The Retail Debt Market in India is being created, thanks to the pioneering efforts of the Exchanges and the market participants and the strong leadership and guidance by SEBI, RBI and the Govt. of India.

The Hon'ble Union Finance Minister, while presenting the Union Budget for 2006-2007, accepted the recommendations of the High Level Committee on Corporate Bonds and Securitization and made a significant policy announcement about creation of a single, unified exchange-traded market for corporate bonds in India. An internal committee under the chairmanship of SEBI Whole Time Member Dr. T.C. Nair was constituted to chalk out a plan for implementation of a Unified Exchange Traded Corporate Bond Market in India. Pursuant to the recommendations of the Committee, SEBI issued a circular on December 12, 2006, entrusting to Bombay Stock Exchange Ltd. the task of rolling out a Unified Reporting Platform for all corporate bonds traded in India with an aggressive target date of January 1, 2007.

SEBI has subsequently taken several steps towards creation of a vibrant Corporate Bond market. On July 2,2007 SEBI permitted BSE to launch a trade matching platform with essential features of an OTC Market. Several other initiatives like simplification of the Debt listing agreement, rationalization of stamp duty and introduction of Repos on Corporate Bonds have been taken by SEBI.

BSE's Bond with Investors

Bombay Stock Exchange Limited (BSE), the premier stock exchange in the country, has heralded the capital market revolution in India and has contributed immensely towards the achievement of global standards of efficiency and safety by the Indian capitals market.

BSE, with its rich experience of 133 years in the Indian capital market, offers investors an efficient and transparent nation-wide platform for trading in Equities, Debt and Derivative products. BSE is now in the throes of change, having transformed itself into a corporate entity effective August 19,2005, and several significant initiatives are in the offing.

Platforms offered by BSE for trading in Fixed Income Securities

Wholesale Debt Market Segment (WDM)

The Reserve Bank of India, vide the following circulars
DBOD. FSC. BC. No. 39 /24.76.002/2000 dated October 25, 2000
IDMC. PDRS. PDS. No PDS-2 /03.64.00/2000-01 dated November 13, 2000
DBS. FID No. C 10 / 01.08.00 / 2000-0122 dated November, 2000
permitted banks, Primary Dealers and financial institutions in India to undertake transactions in debt instruments among themselves or with non-bank clients through the members of Bombay Stock Exchange Limited (BSE). This notification paved the way for BSE to commence trading in Government Securities and other fixed income instruments. The Wholesale Debt Market Segment of BSE commenced its operations on June 15, 2001.

The membership of the Debt Segment is being granted only to the existing (equity segment) Members of BSE who possess a minimum net worth of Rs.1.5 crore. There is no security deposit applicable for the membership of the Debt Segment. The annual approval/renewal charges at present are Rs.25,000.00( currently waived).

The BSE Debt Segment offers the market participants in the Wholesale Debt Market an efficient and transparent reporting platform through its GILT System.

With the view to provide a common front-end to all participants, the GILT system shall be shortly migrated on the browser based ICDM system that is currently used by over 120 participants Members of the debt segment, as such, shall get access to the reporting/trading platforms for G-Secs as well as Corporate Bonds through a common login.

Growth in the WDM

The BSE Debt Segment has shown a gradual but consistent growth in turnover in the past few years with increased participation from the mainstream banking and institutional players. This Segment expects a sustained rise in turnover and participation in the coming years with the initiation of activity by new Members and the continued support and participation of major banks, Primary Dealers and institutions.

Retail Debt Market Segment (RDM)

The Retail Debt Market, in the new millennium, presents a vast kaleidoscope of opportunities for the Indian investor whose knowledge and participation hitherto has been restricted to the equity market.

The development of the Retail Debt Market has engaged the attention of policy makers, regulators and the Government in the past few years. The potential of the Retail Debt Market can be gauged from the investor strength of more than 40 million in the Indian equity market who have powered the tremendous growth and transformation of the stock markets in recent times. Recognizing this opportunity at a very early stage, BSE has consistently been in the forefront of the campaign for the creation of a Retail Debt Market and has expounded the potential and need for the retail trading in G-Secs in the past few years in various important forums and to the key regulatory authorities.

Emergence of the Retail Debt Market

It would surprise many to know that a retail debt market was at one point of time very much present in India. Right through the forties and the fifties and until the early sixties, a good proportion of the holdings of Government securities were concentrated with individual investors; available statistics indicate that more than half of the holdings in Government securities were concentrated with retail investors in the early 50s.

Today, there exists an inherent need for households to diversify their investment portfolio so as to include various debt instruments, including Government securities. The growing investments in the Bond Funds and the Money Market Mutual Funds are a sign of the increasing recognition of this fact by the retail investors.

Retail investors would have a natural preference for fixed income returns and especially so in the current situation of increasing volatility in the financial markets. The Central Government Securities (G-Secs) are the one of the best investment options for an individual investor today in the financial markets due to the following factors:
Zero default risk - due to their sovereign guarantee, ensures the total safety of all investments in G-Secs
Lower average volatility in bond prices
Greater returns as compared to the conventional safe investment avenues like Bank Deposits and Fixed Deposits, which also contain credit risk
Higher leverage -Greater borrowing capacity against G-Secs due to their zero risk status
Wider range of innovations in the nature of securities like TBills, Index linked Bonds, Partly Paid Bonds and others like STRIPS and securities with call and put options to follow soon
Better and greater features to suit a large range of investment profiles and investor requirements
Growing liquidity and the increased turnover in recent times in the Indian Debt Markets

Retail Trading in G-Secs
The Government of India and RBI, recognizing the need for retail participation had in early 2000 announced a scheme for enabling retail participation through a non-competitive bidding facility in the G-Sec auctions with a reservation of 5% of the issue amount for non-competitive bids by retail investors.

The Retail Trading in G-Secs. commenced on January 16, 2003 in accordance with the SEBI Circular bearing ref. no. SMD/Policy/GSEC/776/2003 dated 10th January 2003. The Indian Fixed Income Markets, which until some time ago was the mainstay of the wholesale investors, were made accessible to the retail investors, thanks to some path-breaking initiatives by the Government of India - Ministry of Finance, RBI and SEBI to enable retail trading in G-Secs through stock exchanges. BSE has, for long, been an ardent advocate of the need to enable the participation of the 28 million Indian investor multitude in the Indian Fixed Income Markets. The Indian Investor is today able to buy or sell G-Secs through the nationwide BSE BOLT Network of more than 7,000 terminals spread across 410 cities around the country.

The Retail Debt Market Module of BSE aims at providing an efficient and reliable trading system for all debt instruments and securities of different types and maturities. The key features of the system are:
Trading: by electronic order matching based on price-time priority through the BOLT (BSE OnLine Trading) System with the continuous trading sessions from 9.55 a.m. to 3.30 p.m as is operational in the Equities Segment. Retail Trading in G-secs is on a Rolling Settlements basis with a T+2 Delivery Cycle.
Clearing and Settlement: The Clearing and Settlement mechanism for the Retail trading in G-Secs is based on the existing institutional mechanism available at BSE. The trades executed throughout the continuous trading sessions are netted out at the end of the trading hours through a process of multilateral netting. The transactions are netted out member-wise and then scrip-wise so as to determine the net settlement and payment obligations of the Members.

The Delivery obligations and the payment orders in respect of these Members are generated by the Clearing and Settlement system of BSE. These statements indicate the pay-in and pay-out positions of the Members for securities and funds who then give the necessary instructions to their Clearing Banks and depositories.

The entire risk management and the clearing and settlement activities for the trades executed in the Retail Debt Market System is undertaken by BSE Exchange Clearing House.

Holding and Transfer of G-Secs: The G-secs for retail trading through BSE can be held by investors in the same Demat account (same as the Constituent SGL A/c which can be held with Banks or PDs) as is used for equity at the Depositories. NSDL and CDSL hold the combined quantity of G-Secs in their SGL-II A/cs of RBI, meant only for client holdings.

The BSE Debt Market solution would soon provide live Internet trading on its state-of-the-art BSEWebx Trading System which will offer among others a number of quintessential features and facilities, critical for the investor in the fixed Income markets. The BSE Debt Market solution would seek to provide in the course of time an integrated trading and settlement platform for the entire variety of debt securities and instruments, which are bound to expand in an enormous way in terms of variety and numbers in the near future.