Public float norms: Govt gives itself a reprieve

Market experts said the government should spread out the disinvestment in the 24 PSUs

Samie Modak 

The government has given itself one more year to pare its shareholding in listed public sector undertakings (PSUs). The finance ministry amended the Securities Contracts (Regulation) Rules, 1957, to give PSUs time till August next year to achieve a minimum 25 per cent public float. Without the leeway, the Centre was staring at a challenging proposition of divesting shares worth over Rs 20,000 crore in nearly two dozen PSUs. Last week, the Securities and Exchange Board of India (Sebi) said the government had expressed difficulties in meeting the August 21, 2017, deadline. ...

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