Markets regulator SEBI has refused to lift restrictions it had imposed on Polson Ltd for not complying with the minimum public shareholding (MPS) norms
The Mumbai-based realty firm is expected to garner over Rs 180 crore through this issue if it is fully subscribed.
Market regulator Sebi on Monday revoked the restrictions it had imposed on Essar Ports as well as its directors and promoters for not meeting the minimum public shareholding norms, as the company has now complied with the directions.
Wipro transferred 6.1 crore shares to an independent trust last month and got Sebi approval on meeting minimum public shareholding norms.
the Securities Appellate Tribunal has granted a stay on Gillette's minimum public shareholding deadline.
Racing to meet Sebi's minimum public shareholding norms, promoters of two companies on Tuesday reduced their stake, while 15 firms including Jet Airways, Essar Shipping and Tata Teleservices have already kickstarted the process.
Chairman of SEBI UK Sinha today said that post the relaxation of qualified foreign investor norms he expected to see better response from foreign investors.