SEBI Allows Non-individual Public Shareholders Holding 5% of Post-issue Capital to Meet Min. Promoters’ Contribution
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- Last Updated on 20 May, 2024
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Notification No. SEBI/LAD-NRO/GN/2024/178; Dated: 17.05.2024
SEBI has notified the SEBI (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2024. Regulation 14 relating to minimum promoters’ contribution has been amended. It states that if promoters’ post-issue shareholding is less than 20%, any non-individual public shareholder holding at least 5% of the post-issue capital or any entity forming part of promoter group (other than promoters) may also contribute to meet the shortfall in minimum promoters’ contribution.
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