quantum of shares

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RItu (Querist)
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04 January 2008 can promoter/ directors and the group can take up shares of a listed company thru preferentail allotment to the tune of 50% of the shares ( i.e 10 crores out of the authorised 20 crores )or there is any limitation as to the % to be taken by promoters by sebi

kartik_somu

kartik_somu (Expert)
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19 March 2008 Promoters can hold shares more than 20 %, but they are required to hold 20 % holding for a minimum period of three years.

i.e. they cannot sell of that stake within three years.