New Delhi: Regulator SEBI”s board on Wednesday determined to chill out the minimum public offer norms for massive issuers by lowering sure necessities. Changes have been accredited within the Securities Contracts (Regulation) Rules, 1957 (SCRR), based on a launch.
The minimum public offer requirement has been decreased from 10 p.c of put up concern market capital to Rs 10,000 crore plus 5 p.c of the incremental quantity past Rs 1 lakh crore.
This is for issuers with put up concern market capital exceeding Rs 1 lakh crore.
In addition, such issuers could be required to realize at the very least 10 p.c public shareholding in two years and at the very least 25 p.c public shareholding inside 5 years from the date of itemizing.
Presently, issuers with put up concern market capital of at the very least Rs 4,000 crore or extra, are required to offer to public at the very least 10 p.c of its put up concern market capital and obtain a minimum public shareholding of at the very least 25 p.c inside three years from the date of itemizing.
Subscribe to Moneycontrol Pro at ₹499 for the primary 12 months. Use code PRO499. Limited interval offer. *T&C apply