On July 5, 2019, the Indian finance minister, in her debut budget speech, announced a few big-bang proposals. One such proposal was for capital market regulator Securities and Exchange Board of India (“SEBI”), to consider increasing minimum public shareholding requirement in listed companies from the current threshold of 25% to 35%.
Jabarati Chandra
Partner, S&R Associates
The current threshold
Many Indian listed companies are promoter-owned and controlled (promoters are generally controlling shareholders in a company). For an initial public offering to be successful and for continuous listing, the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”), includes the concept of a minimum public float (public is defined to exclude promoters and the promoter group).
Bu hikaye Legal Era dergisinin September 2019 sayısından alınmıştır.
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Bu hikaye Legal Era dergisinin September 2019 sayısından alınmıştır.
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