India, Sept. 9 -- Markets regulator SEBI has notified simplified rules for the voluntary delisting of public sector undertakings (PSUs) where the government holds 90% or more stake, aimed at making the exit process smoother.
The new framework relaxes the requirement of securing approval from two-thirds of public shareholders and revises the method for calculating the floor price. Such delistings can now take place at a fixed price — at least 15% above the floor price — irrespective of trading frequency.
According to SEBI's notification dated September 1, the provisions apply to PSUs (excluding banks, NBFCs, and insurance companies) with government ownership of 90% or higher.
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