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Listed firms, open offers may gain from Sebi's relaxed MPS stance
Khushboo Tiwari Mumbai
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The Securities and Exchange Board of India's (Sebi) proposal to extend the timelines for meeting the 25 per cent minimum public shareholding (MPS) requirement could benefit both listed companies and open offer breaches.
Currently, newly listed companies such as Hyundai Motor India and Bajaj Housing Finance have promoter shareholding exceeding the 75 per cent threshold.
According to legal experts, these companies could gain more flexibility if Sebi's proposal to provide an extended compliance window is approved.
Under the Securities Contracts (Regulation) Rules (SCRR), companies are currently required to reach 25 per cent public shareholding within a five-year period. Sebi has
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