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            <h1>Clarifying 'Public' in Securities: Excludes Promoters, Subsidiaries, and Associates per 1957 Rules & 2015 Regulations.</h1> The term 'public' in the context of securities regulations refers to individuals or entities that are not the promoter, promoter group, subsidiaries, or associates of a company. This definition is consistent across the Securities Contracts (Regulation) Rules, 1957, and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The terms 'promoter' and 'promoter group' are defined by the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.

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