SEBI RELAXES NORMS FOR PROMOTERS TO UP STAKE

Promoters can increase their stake up to 75 per cent through creeping acquisition, instead of 55 per cent earlier. However, they will have to buy shares through normal market purchase and not through bulk, block or negotiated deals. Through a creeping acquisition, the promoters of a company can increase their stake in the company by buying up to five per cent of the company’s equity annually.