Sebi to get tough with companies with high promoter holding

Agencies : New Delhi, Sun Dec 02 2012, 15:27 hrs

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The listed entities desirous of achieving the minimum public shareholding requirement through other means can approach Sebi with the appropriate details, while companies can also seek any relaxation within the available methods.

However, Sebi is not willing to extend the deadline any further, which was set way back in 2010, the official said.

Sebi is even willing to allow 'corporate restructuring' as a means of achieving minimum public shareholding, but the companies desirous of using this method are required to seek prior approval from the regulator, he added.

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