SEBI Approves Doing Away With Minimum Promoter Contribution Towards FPO
SEBI eases norms for FPO, tightens rules for stressed companies Sebi has stipulated that companies getting out of CIRP and wanting to relist will have to achieve 5 percent Minimum Public Shareholding at the time of relisting. December 17, 2020 / 11:38 AM IST The Securities and Exchange Board of India (Sebi) has allowed promoters more space to raise funds via a Follow-on Public Offer (FPO) and has also taken steps to limit price manipulation when companies are relisted after undergoing bankruptcy proceedings. The regulator, in its December 16 board meeting, approved recalibration of minimu...
Source: moneycontrol.com