Sebi announced several changes in the initial public offering (IPO) guidelines, offer for sale (OFS) and Know Your Client (KYC) norms.
SEBI said that all listed state-run companies should have at least 25% public shareholding in three years, according to a news channel.
SEBI chairman UK Sinha also said the minimum shareholding in PSUs should be uniform. Sebi has eased Offer for Sale norms. Retail investors will get 10% reservation while non-promoters are allowed to sell stake. Seller may offer discount to retail investors via OFS. All market rules should be neutral for promoters, SEBI added.
The minimum IPO norm for dilution will be 25% or Rs. 400 crore and over 75% will be government stake.
Sebi board has also approved new regulations for research analysts and said that ESOP regulations will be revamped.
The regulator has hiked the anchor investor limit. It has also raised the anchor investment limit to 60% from 30%.
SEBI has also reworked the KYC norms. SEBI said it would allow KYC information sharing with other regulators so that there is uniform KYC information across the financial market. SEBI amended other KYC norms to enable other financial regulators.
Sinha said that research analysts will have to register with the regulator. They will now be regulated and have to make disclosures.