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Budget impact: Sebi may give listed firms two years for 35% public holding

Regulator, however, concerned with implications of takeover code; to start public consultation soon

Sebi. (Photo: Kamlesh Pednekar)
Sebi. (Photo: Kamlesh Pednekar)

The Securities and Exchange Board of India (Sebi) may give listed companies two years to increase minimum public shareholding from 25 per cent to 35 per cent, a proposal floated in the Union Budget 2019-20. “The compliance and time frame would be similar for all listed companies, including public sector undertakings,” said a government official in the know, adding Sebi would come up with a detailed framework after consultation with all stakeholders.  The market regulator is examining all the modalities and will issue a discussion paper soon. A source ...