Corporate India is not in favour of a uniform 25 per cent minimum public shareholding for all listed companies as proposed by a recent finance ministry discussion paper.Some large companies said the measure would broaden and deepen the equity cult in the country, but feel that a blanket 25 per cent minimum public shareholding norm should not be applied indiscriminately to all companies.
The ministry had floated the paper on February 1 and asked for public comments by the month-end. The minimum public shareholding limit now is 10 per cent.Finance ministry officials have received around 40 responses.
The finance ministry and The Institute of Company Secretaries of India (ICSI) will hold discussions with company representatives on March 29 to evolve a consensus on the proposal.
Read more in
The Business Standard article.
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