"I am happy to inform that we have received confirmation from government that it will abide by public shareholding guidelines within the timeframe," Sebi Chairman U K Sinha said at a conference organised by industry body Assocham.
According to Sinha, the promoter holding in Indian companies is very high as compared to other Asian markets and Sebi took up the matter with the government as it feels that he PSUs should also follow the rules, Sinha said.
Under the norms, privately promoted companies are expect to have a public shareholding at 25 per cent by June 2013, while the same for the state-run listed companies has been relaxed to 10 per cent, which has to be met by August 2013,
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