 "IDBI Bank")
The Centre has reached out to the market regulator, Securities and Exchange Board of India (Sebi), seeking a relaxation period of two years in the minimum public shareholding (MPS) norms for IDBI Bank after its privatisation, reported The Economic Times on Wednesday.
Under the current Sebi norms, listed companies need to have a public shareholding of at least 25 per cent within three years of being listed in the stock market. While IDBI Bank is already listed, state-run companies are exempted from the minimum public holding rule.
As the Centre is looking to privatise the bank, after listing it would need to comply with the Sebi rule.
