The Bombay Stock Exchange (BSE) on August 01, 2024, issued a notification regarding Exemption under Rule 19A of Securities Contract (Regulation) Rules. 1957 (Minimum Public Shareholding for public sector company).
The following has been stated: -
•In accordance with the latest directives issued by the Ministry of Finance vide F.No.1/14/2018-PM on July 19, 2024 (copy enclosed), it is to be noted that every listed public sector company, as defined in the Securities Contract (Regulation) Rules 1957, which has public shareholding below twenty-five percent within the timeline stipulated in Rule 19A of SCRR, 1957, shall get exemption up to August 01, 2026 to increase its public shareholding to at least twenty-five percent.
[Notice No. 20240801-51]
