SEBI : Private firms, PSUs must increase public holding by 25 % by August 2013
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Capital market regulator, SEBI today said both public and private sector companies will have to increase public shareholding to a minimum of 25 per cent by August 2013 and there will be no relaxation of the guidelines. SEBI Chairman Mr. U K Sinha told this to reporters on the sidelines of Bombay Stock Exchange function in Mumbai today.
There are 181 non-PSU firms that do not meet the minimum shareholding norms, he said, adding that around 27,000 crore rupees will have to be mobilised by June 2013. He also said that sixteen PSUs will have to mobilise 12,000 crore rupees.
He said that SEBI will come out with the guidelines on MIMPS (Manner of Increasing and Maintaining Public Shareholding in Recognised Stock Exchanges) in the next two months.
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