The provisions of the amended clause 40A of the Listing Agreement provides that companies listed on BSE have to maintain a minimum public shareholding of either 25% or 10% as the case may be.

One of the conditions stipulated with reference to companies required to maintain 10% is as follows:

"Where the number of outstanding listed shares of any class or kind of the company are two crores or more and the market capitalization of such company in respect of shares of such class or kind is Rs.1000 crores or more, it agrees to maintain on a continuous basis, public shareholding of at least 10% of the total number of issued shares of such class or kind".

With reference to the above, companies are requested to note their respective Average Market Capitalization for the Financial Year 2007-2008 for determining the applicable percentage of minimum Public Shareholding is required to be maintained by them for the year April 2008 to March 2009.

It should be noted as per the provision of Clause 40A of the Listing Agreement, all listed companies are required to comply with the requirement of minimum public shareholding latest by May 1, 2008.