CIRCULAR
SEBI/HO/CFD/CFD-PoD-2/P/CIR/2024/7 January 25, 2024
To,
All listed entities
All Recognized Stock Exchanges
Madam / Sir,
Sub: Extension of timeline for verification of market rumours by listed entities
1. The proviso to Regulation 30(11) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“LODR Regulations”) inter-alia requires top 100 listed
entities by market capitalization and thereafter the top 250 listed entities by market
capitalization to mandatorily verify and confirm, deny or clarify market rumours from the
date as may be specified by SEBI. Further, SEBI vide Circular no. SEBI/HO/CFD/CFD-
PoD-1/P/CIR/2023/162 dated September 30, 2023, has made the said provision
applicable to top 100 listed entities by market capitalization from February 1, 2024 and to
top 250 listed entities by market capitalization from August 1, 2024.
2. Considering the fact that the industry standards are under finalization and certain
amendments to LODR Regulations are required for implementation of the aforesaid
provision, it has been decided to extend the timeline for effective date of implementation
of the proviso to regulation 30(11) of the LODR Regulations for top 100 listed entities by
market capitalization, to June 1, 2024 and for top 250 listed entities by market
capitalization, to December 1, 2024.
3. This Circular is issued in exercise of the powers conferred under Section 11 of the
Securities and Exchange Board of India Act, 1992 read with Regulation 101 of the LODR
Regulations.
4. This Circular is available at www.sebi.gov.in under the link “LegalCirculars”.
Yours faithfully,
Vimal Bhatter
Deputy General Manager
Corporation Finance Department
Policy and Development-1
+91-22-26449386
vimalb@sebi.gov.in