Mumbai Capital market regulator Sebi said on Friday that both public and private sector companies will have to increase public shareholding to a minimum of 25 per cent by August 2013 and there will be no relaxation of the guidelines.
There are 181 non- PSU firms that do not meet the minimum shareholding norms, he said, adding ” around Rs 27,000 crore will have to be mobilised by June 2013. Sixteen PSUs will have to mobilise Rs 12,000 crore.” On the revamping of Initial Public Offering ( IPO) process, Sinha said, ” entire process will be done in three- four months.” Sinha, however, refused to comment on the controversy relating to General Anti Avoidance Rules ( GAAR), which were proposed in the Budget to tighten laws to check tax evasion and had adversely impacted the stock markets.
Some companies feel that Sebi will relax this. But let me tell you I am going to make it difficult’U K SINHA , Sebi Chairman
