SEBI Mulls Easing of Listing Rules for Indian Firms
November, 04th 2009
The Securities and Exchange Board of India is considering easing of certain eligibility requirements for companies to list on the country's stock exchanges, an official at the regulator said Wednesday.
"We are considering relaxing certain requirements, including the need for an issuer to have a net worth of at least 10 million rupees ($212,220 dollars) in each of the preceding three full years," M.S. Sahoo, a whole-time member, said at an event.
He said the regulator is also looking at easing the requirement for companies to have distributable profits for at least three of the preceding five years.
Another rule it is considering to relax is the requirement of having net tangible assets of at least 30 million rupees for three years with more than 50% of them in monetary assets, Mr. Sahoo added.