NEW DELHI: Markets regulator Sebi on Wednesday decided to tweak norms pertaining to 25 per cent minimum public shareholding for companies which undergo corporate insolvency resolution and seek relisting following the process.
Besides, it decided to enhance disclosure for such companies, Sebi said in a statement after its board meeting.
The move would ensure revival of the corporate debtor pursuant to the resolution plan and provide any listing gains over the next three years to shareholders.
Post the Corporate Insolvency and Resolution Process (CIRP), such companies will be mandated to have at least 5 per cent public shareholding at the time of their admission to dealing on stock exchange.
At present, there is no such minimum requirement.
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