Sebi won’t fine companies for not meeting the minimum public shareholding (MPS), according to a circular The market regulator, Securities & Exchange Board of India (Sebi) efforts to help entities navigate compliances during covid-19 related lockdown continued on Thursday.
The regulator won’t fine companies for not meeting the minimum public shareholding (MPS), according to Sebi circular. This relief is for companies who were required to comply with a minimum public float of 25% between 1 March and 31 August.
Fines levied by exchanges after 1 March to now will also be withdrawn, said Sebi. Stock exchanges under the norms levy a penalty of ₹10,000 per day on companies for not meeting the public float requirement, this amount is credited to