Companies that have a market capitalisation of more than ₹1 lakh crore at the time of listing can now sell just five per cent of their shares, with the latest amendment in rules, a move that will be beneficial for the government during the proposed initial public offer of LIC.
- Such entities will be required to increase its public shareholding to 10 per cent in two years and raise the same to at least 25 per cent within five year
- In February this year, Sebi’s board approved relaxing the minimum public offer norms for large issuers
