Tuesday, July 16, 2013

SEBI new norms for listing of preference shares

The Securities & Exchange Board of India (SEBI) has said that the listing of privately placed non-
convertible redeemable preference shares would require a minimum application size of Rs 10 lakh for each investor. Besides, the public issuance of such shares would require minimum three-year tenure for the instruments and at least a rating of 'AA-' or equivalent investment grade.

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