Sebi chairman UK Sinha today warned against violation of public shareholding norms. The market regulator added that the government is committed to ensuring that public sector companies comply with the minimum public shareholding norms and will not be seeking any extension. It has also decided to tweak takeover and OFS norms.
Sebi has relaxed norms for governing offer for sale (OFS) and institutional placement programme (IPP). V Jayasankar of Kotak Investment Banking is happy with the proposed changes saying it will give large and smallcap companies a huge leg up.