New Delhi, Sep 11
Markets regulator SEBI is expected to take up several key reforms including IPO norms, investors rules and many more in its upcoming board meeting on Friday.
The board will discuss relaxing the minimum requirements for initial public offerings (IPOs) by very large companies and extending the timeline for them to meet minimum public shareholding rules, according to sources.
According to the official notification, employees who are identified as promoters or part of the promoter group in the draft IPO documents can now continue to hold or exercise ESOPs, Stock Appreciation Rights (SAR), or any similar benefit, provided these were granted at least one year prior to filing.
Until now, SEBI’s rules did not allow promoters to hold ESOPs or similar share-based benefits.