HindustanTimes Thu,17 Apr 2014

87 firms yet to obey MPS norms

PTI  Mumbai, May 27, 2013
First Published: 00:41 IST(27/5/2013) | Last Updated: 00:42 IST(27/5/2013)

Nearly 87 actively-traded companies, including 75 private entities and 12 state-run units, are yet to comply with the minimum public shareholding (MPS) norms stipulated by SEBI.

“We estimate a further sale of around $1.9 billion by June-end deadline as 75 private sector companies are yet to comply with the 25% MPS norms. Another 12 PSUs have to comply with the MPS requirement of 10% by August 2013,” Sanjeev Prasad, senior executive director, Kotak Institutional Equities said.

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