Recognised stock exchange shareholding requires eligible institutional ownership while limiting other persons' direct or concerted equity holdings.

Regulation 16 requires a recognised stock exchange to have prescribed ownership by a recognised stock exchange or a consortium of eligible market infrastructure institutions. A consortium must hold at least 51% of paid-up equity share capital, with recognised stock exchanges collectively holding at least 51% within the consortium. Other persons, individually or acting in concert, cannot directly or indirectly acquire or hold more than 25% of paid-up equity share capital.

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