Public shareholding News

Paving way for sale of PSU shares worth an estimated Rs 60,000 crore over three years, the government has notified rules for minimum 25 percent public shareholding in listed state-owned firms.

United Spirits Ltd will sell 11.35 percent stake in Pioneer Distilleries Ltd to comply with regulatory requirements of having 25 percent public shareholding.

Leading stock exchange BSE has decided to move stocks of 11 firms to the restricted trading segment from next week for their failure to convert mandatory 50 percent public shareholding into dematerialised format.

To bring uniformity in rules, capital market regulator SEBI Thursday cleared a proposal for ensuring at least 25 percent public holding in all the listed state-owned companies within three years.

Approving a slew of reform measures, the SEBI board Thursday said that all listed PSUs should achieve a minimum public shareholding of 25 percent within three years.