SEBI notifies ‘fast-track’ route for share sales

To boost fund raising from markets, SEBI notified new normswhich will provide all listed companies a ‘fast-track’ route for share sales. As per the new norms, firms in which public shareholders own stocks worth `1,000 crore will now be able to access this route through a Follow-on Public Offer (FPO).
Such listed companies can tap the ‘fast-track’ route even without complying to this minimum average market value limit, provided they meet other conditions.Under the ‘fast-track’ route, a listed company would not be required to file any draft offer document for its FPO or rights issue. This new route would also give a boost to the government’s disinvestment drive.