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SEBI Relaxes Minimum Public Offer Requirements for Large Issuers; Board Meets FM
Moneylife Digital Team
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Securities and Exchange Board of India (SEBI) has relaxed norms of minimum public offer (MPO) for large companies to Rs10,000 crore plus 5% of the incremental amount beyond Rs1 lakh crore. The SEBI board, at its meeting in New Delhi, also decided to amend underwriting provisions and portfolio management rules.
 
In a statement, SEBI says, The Board has decided to recommend changes in the Securities Contracts (Regulation) Rules,1957 (SCRR), for issuers with post issue market capital exceeding Rs1 lakh crore, the requirement of MPO be reduced to Rs10,000 crore + 5% of the incremental amount beyond Rs1 lakh crore from existing provision of 10% of post issue market capital. These issuers shall be required to achieve at least 10% public shareholding in two years and at least 25% public shareholding within five years from the date of listing. ....

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