TOP 100 COS CAN SELL STAKE VIA BOURSES: SEBI

Stock market regulator Securities and Exchange Board of India (SEBI) has notified guidelines that enable promoters to sell their stake through stock exchanges and increase minimum public shareholding in their companies to the stipulated 25 per cent. This facility would be available only on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) and only to the top 100 companies by average market capitalization in the preceding quarter. Promoters should not have bought or sold their shares 12 weeks prior to and should not buy or sell 12 weeks after the offer period.