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Have asked government to allow fractional ownership of shares in India, says SEBI chief

Fractional ownership refers to a mechanism wherein an investor can buy or sell a fraction of the shares as well

June 28, 2024 / 10:46 IST
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Have asked government to allow fractional ownership of shares in India, says SEBI chief Madhabi Puri Buch

The Securities and Exchange Board of India (SEBI) has written to the government to allow fractional ownership of shares in the domestic equity market as enabling such a facility would require changes in the Companies Act.

On Thursday, SEBI chairperson Madhabi Puri Buch said that the capital market watchdog has already written to the relevant ministry to look into the matter and see if the necessary changes in the legislation can be done.

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“Since the Companies Act is under deliberation, we have requested the ministry, so let’s see what comes out,” said SEBI chairperson Madhabi Puri Buch while speaking to the media on Thursday after the board meeting.

Fractional ownership refers to a mechanism wherein an investor can buy or sell a fraction of the shares as well – a feature that is already available in some of the markets globally including the US.