Mumbai, Sept. 13 -- The Securities and Exchange Board of India (SEBI) has approved sweeping changes to public offer norms, IPO allocations, related party transactions, and foreign investor access, aimed at easing compliance and broadening market participation.

For very large issuers with a market capitalisation above Rs 1 lakh crore, SEBI has recommended amendments to the Securities Contracts (Regulation) Rules, 1957, to stagger compliance with minimum public shareholding (MPS) requirements. Such companies may now list with a lower public float and will be given extended timelines to meet the 25 per cent MPS norm.

If public shareholding at listing is below 15 per cent, it must be raised to 15 per cent within five years and to 25 per cen...