Sebi may allow more routes for stake dilution
With less than six months to go for private sector companies to meet the minimum public shareholding requirement, market regulator Sebi is looking at introducing more routes and also ease the rules under already available routes.
Talking to reporters on the sidelines of the Financial Planning Congress here on Wednesday, Sebi chairman UK Sinha responded in the affirmative when asked if Sebi is looking to allow additional routes like allotment of preference shares for companies as a means to bring down the promoters shareholding.
He however added that the regulator would be looking to simplify the existing routes. Addressing the conference Sinha said that Sebi is reviewing the 'takeover code' regulations and will come out with revisions in the near future.
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