Banking and Financial News – 19 June 2014

Sebi relaxes IPOs, OFS norms to boost primary markets (Mint) -

Securities and Exchange Board of India (Sebi)—has relaxed norms for initial public offerings (IPOs) and offers for sale (OFS) to encourage more companies to sell shares and attract retail investors.

• Companies with a post-issue capital of less than Rs.4,000 crore will have to sell a 25% stake or stocks worth Rs.400 crore, whichever is lower, to the public in an initial share sale.

• A minimum 10% of the OFS issue size to be reserved for retail investors, those who bid for amounts less than Rs.2 lakh.

• All listed companies, including state-run companies will have to reduce promoter holding to 75% within three years.

Go confidently in the direction of your dreams! Live the life you’ve imagined. ~ Henry David Thoreau

Courtesy : Mint