Sebi Will Give Indian Corporations a New Identity
In place of “promoter-driven” companies, Sebi plans to create the idea of “controlling shareholders-driven companies” to enable companies, particularly startups without promoters, to get listed on stock markets and access public financing.
This was stated by Sebi Chairman Ajay Tyagi during a capital market summit conducted by industry body Ficci on Wednesday. To implement this law, significant changes to existing securities regulations will be required.
“With practically all corporate-related legislation in India based on the promoter notion, I don’t think I need to stress how critical and far-reaching this suggestion is,” Tyagi added. The new guidelines from the Sebi will completely transform the Indian listing landscape.
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