GC
Sebi ECM reforms to trigger a slew of stake sales
The Securities and Exchange Board of India (Sebi) has made some much-needed changes to its ECM rulebook, which bankers say will wake up the country’s equity market and keep it busy for the next three years, writes Rashmi Kumar.
As part of its measures, the regulator is making it mandatory for all state-owned companies, also called public sector undertakings in India, to have a minimum float of 25%. Previously, only private companies were required to have a minimum 25% float, while PSUs could get away by listing
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