India likely to put 35% minimum shareholding rule for listed entities on hold: Source

The government is looking for ways to ease concerns of foreign portfolio investors that have pulled out of Indian equity markets after a budget announcement of higher taxes for individuals and trusts earning more than 20 million rupees a year

Reuters

August 02, 2019 / 16:11 IST

India's government is likely to put on hold a plan to raise the minimum public shareholding in listed companies to 35% from 25%, a source with direct knowledge of the matter said on August 2.

The government is also looking for ways to ease concerns of foreign portfolio investors that have pulled out of Indian equity markets after a budget announcement of higher taxes for individuals and trusts earning more than 20 million rupees a year, the source said.

Reuters

first published: Aug 2, 2019 03:59 pm

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