India Lowers Minimum Public Shareholding to Facilitate NSE and Jio Listings

India has formally reduced the minimum public shareholding requirement for large companies listing on stock exchanges, allowing firms valued above Rs 5 lakh crore to offer just 2.5% of their paid-up capital in initial public offerings. The new rules include a mandatory glide path for companies to increase public shareholding to 25% within specified timeframes based on their initial public float and market capitalization. Additional provisions require companies with superior voting rights shares to list those shares alongside ordinary shares. These changes aim to facilitate listings by entities like the National Stock Exchange and Reliance Jio.