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Trading Members desirous of changing its constitution should take note of the following:
- An application for change in constitution needs to be submitted to the Exchange as per the checklist mentioned below.
- A processing fee of Rs. 50,000 + applicable taxes would be applicable for processing of the change in constitution application for the trading members who are registered as corporates.
- In case of change in constitution of other than body corporates, the said change will amount to change in control as per Regulation 2(1)(c)(ii) of the SEBI (Stock Broker) Regulations, 2026. Accordingly, the processing fee of 5,00,000 + applicable taxes will be applicable.
- There should be at least 2 qualified directors who should be graduates with minimum 2 years experience in securities market related activities.
- The proposed corporate should have a minimum paid up capital of Rs. 30 lakhs.
- The proposed entity should meet the networth requirements of the Exchange from time to time.
- The proposed entity should obtain SEBI registration certificate.
- Upon enablement of the proposed entity in Exchange records, the Trading Member will have to pay the differential deposits as applicable.
Checklist for Change in Constitution
Checklist for registration pursuant to change in constitution
Updated on: 03/08/2026
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