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To give a final push to companies looking to achieve compliance with the minimum public shareholding norms, Sebi has allowed them to announce their offer-for-sale (OFS) plans just a day in advance.
According to earlier guidelines, companies had to announce it on the last trading day before the launch of the issue. In a circular on its website, Sebi amended the guidelines to allow firms to launch their OFS even on the last day of the deadline for meeting the norms.
The deadline for private companies to meet the minimum public shareholding norms is Monday.
The deadline for the public companies is August 9. According to MPS norms, companies are to maintain minimum public shareholding at 25 per cent.
