MUMBAI (Reuters) - The Securities and Exchange Board of India (SEBI) said it will allow stock exchanges to list, paving the way for bourses BSE Ltd and the National Stock Exchange (NSE) to conduct initial public offerings.
The regulator, said it will allow exchanges and depositories to list as long as they can meet a minimum public shareholding of 51 percent and vet each shareholder using "fit and proper" criteria.
(Reporting by Himank Sharma; Editing by Hugh Lawson)