Public shareholding norms revised: tiered minimum public offers and phased post listing shareholding increases required. The amendment reforms public shareholding norms by imposing a tiered, post-issue capital-based framework for minimum public offers of each class of equity shares or convertible debentures, with staged timelines for issuers to increase public shareholding after listing. It requires simultaneous listing of superior voting shares when ordinary shares are offered to the public, provides an exception for IFSC listings with modified application of the tiered minimums, and authorises recognised stock exchanges to penalise prior non-compliance. The rules take effect on Gazette publication.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Public shareholding norms revised: tiered minimum public offers and phased post listing shareholding increases required.
The amendment reforms public shareholding norms by imposing a tiered, post-issue capital-based framework for minimum public offers of each class of equity shares or convertible debentures, with staged timelines for issuers to increase public shareholding after listing. It requires simultaneous listing of superior voting shares when ordinary shares are offered to the public, provides an exception for IFSC listings with modified application of the tiered minimums, and authorises recognised stock exchanges to penalise prior non-compliance. The rules take effect on Gazette publication.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
