Listed share sale by promoter
harish sharma (2 Points)
30 November 2020
can listed company promoter sale their share open market
3 Replies
CS M Pota
(Company Secreatary)
(3186 Points)
Replied 30 November 2020
Yes, in my view SEBI norms require every listed firm to maintain a minimum public shareholding of 25 per cent. To maintain the said ratio/percentage promoter(s) of a listed company can now sell shares up to 2 per cent held by the promoters/promoter group in the open market.
ayusmita
(Tax consultant)
(5885 Points)
Replied 02 December 2020
Yes they can as per the rule and regulation of sebi
Chirag
(Professional)
(1979 Points)
Replied 08 December 2020
Reporting under takeover is required also classification provision may need to be complied.
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