SEBI EASES PUBLIC FLOAT NORMS FOR LISTED COMPANIES

MUMBAI: The Securities and Exchange Board of India (Sebi) on Thursday scrapped fines on listed companies unable to meet the minimum public holding norms, continuing its efforts to help businesses navigate the current turmoil. The market regulator said it will not impose fines on companies that are unable to achieve the minimum public shareholding (MPS) of 25% between March 1 and August 31. A Sebi circular said fines levied by exchanges after March 1 will also be withdrawn. Under the rules, stock exchanges are to levy a penalty of ₹10,000 per day on firms for not meeting the public float requirement.