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SEBI Allows Two New Modes For Share Sale

By : Irfan Khan | 4 January 2012
Industry : General
Category : Regulatory
SEBI Allows Two New Modes For Share Sale

SEBI has announced two additional modes of share sale to allow promoter groups to sell their stakes in listed firms to ease the process of increasing public shareholding for Indian companies.

The finance ministry in 2009 had directed all listed firms to mandatorily enhance public shareholding to a minimum of 25% by 2013. Companies, however, were barred from using the qualified institutional placement (QIP) route to comply with this rule.

The two new modes announced are Institutional Placement Programme and Offer of sale through stock exchanges.

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Tags
Share Sale , SEBI
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