Increased public shareholding norm may hit companies planning IPOs

Mumbai: Companies looking to list through initial public offerings are in for some tough times as such share sales could be one of the biggest casualties of the planned increase in minimum public shareholding limits of listed companies. This could be more so if market regulator Sebi gives less than three years to the companies to comply with the revised limit, said experts. They said large share offerings to reduce promoters’ maximum shareholding to 65 per cent in their companies could diminish investor appetite for IPOs, which have largely underperformed…