Recognised depository shareholding requires qualifying institutional ownership while restricting other investors' direct or concerted equity holdings.

Recognised depository shareholding must be held by a recognised domestic or foreign depository with at least twenty-six per cent of paid-up equity share capital, or by a consortium of market infrastructure institutions holding at least fifty-one per cent. Within a consortium, eligible stock exchanges must hold at least fifty-one per cent. Other persons may not directly or indirectly acquire or hold more than twenty-five per cent, individually or with persons acting in concert.

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