SEBI on Monday outlined the broad guidelines for an initial public offering (IPO) by bourses. The securities market regulator has made it mandatory for stock exchanges to ensure that the minimum public shareholding is at least 51 per cent.
Trading members, associates and agents can hold the balance 49 per cent. Both BSE and NSE are looking to float an IPO with the former already seeking SEBI’s approval for the listing.
The regulator has also permitted listing of depositories, which will be governed by the same norms as those applicable to stock exchanges.
This could help BSE and NSE reduce their shareholding in Central Depository Services Ltd (CDSL) and National Securities Depository Ltd.
Trading members, associates and agents can hold the balance 49 per cent. Both BSE and NSE are looking to float an IPO with the former already seeking SEBI’s approval for the listing.
The regulator has also permitted listing of depositories, which will be governed by the same norms as those applicable to stock exchanges.
This could help BSE and NSE reduce their shareholding in Central Depository Services Ltd (CDSL) and National Securities Depository Ltd.
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