Wednesday, October 21, 2009

[Investors Please Listen] Listed PSUs may not be exempt from 25% pub holding proposal


The government is considering a proposal to increase public holding in listed state-owned companies to 25%, a move that would result in a host of follow on public offers. The finance ministry has started the process of drafting rules to increase public holding in the listed companies in which the promoter holds more than 75% stake. It would be explicit, there would be no exception. This would include public sector companies as well, a senior ministry official said. The draft will be released soon for public comments.
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