Sebi notifies 'ease of doing biz' reforms

Mumbai: Govt has notified a host of reforms recently approved by Sebi board to ease compliance and smoothen listings.

PSUs, where govt owns over 90% (excluding banks, NBFCs and insurers), will now find it easier to delist: the two-thirds minority approval requirement has been waived, the floor price will be set by the highest of recent trading or independent valuations, and exits can be offered at a fixed price at least 15% above that floor, with proceeds from untendered shares parked with the exchange for seven years. Startup founders preparing for an IPO can now retain stock options or similar benefits granted at least one year before filing, reversing earlier rules that forced liquidation and providing relief to companies shifting domicile back to India. InvITs and REITs have seen their minimum allotment size cut to Rs 25 lakh in primary offerings. TNN