Sebi Eases MPO For Large Firms

National markets regulator Securities and Exchange Board of India (Sebi) has approved a slew of proposals, including relaxing minimum public offer requirements and amending norms for portfolio managers. It has relaxed norms of Minimum Public Offer (MPO) for large companies to Rs 10,000 crore plus 5 per cent of the incremental amount beyond Rs 1 lakh crore. Issuers with a post-issue market capital of at least Rs 4,000 crore or more are required to offer to the public at least 10 per cent of their post-issue market capital or MPO. Further, such issuers are also required to achieve a minimum public shareholding (MPS) of at least 25 per cent within three years from the date of listing. The watchdog cleared repealing of the Sebi (Underwriters) Regulations, 1993, and amendments to the Sebi (Merchant Bankers) Regulations, 1992, and the Sebi (Stock Brokers) Regulations, 1992. To ease the way of...