SEBI unveils two additional paths to meet Minimum Public Shareholding Norms
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- By Taxmann
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- Last Updated on 6 February, 2023
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1. Introduction
Earlier, the SEBI vide. Circular No. SEBI/HO/CFD/CMD/CIR/P/43/2018 dated February 22, 2018, had permitted various methods that listed entities can use to comply with the minimum public shareholding (MPS) requirement as mandated under the Rule 19(2)(b) and 19A of the Securities Contracts (Regulation) Rules, 1957 read with Regulation 38 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The SEBI has reviewed some of the existing methods, and two additional methods have been introduced. Accordingly, a listed entity shall adopt any of the methods in order to achieve compliance with the MPS requirements.
This comes after representations from listed companies and other stakeholders requesting relaxation in conditions for using non-prescribed methods to achieve MPS compliance.
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