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SEBI EASES IPO NORMS, PUBLIC FLOAT REQUIREMENTS
The New Indian Express Kottayam
|September 13, 2025
The board approves proposal to reclassify REITs and InvITs as equity instruments, while expanding the definition of strategic investor to include QIBs
TO simplify fundraising through initial public offerings (IPOs), markets regulator Sebi has eased minimum public float norms for large companies in a scale-based manner, depending on post-issue market capitalisation.
Companies with a post-issue market cap above ₹5 lakh crore can now sell a minimum of 2.5% of their paid-up share capital in an IPO, compared to 5% earlier, Sebi chairman Tuhin Kanta Pandey said on Friday after a board meeting.
He said lowering the minimum offer size would make it easier for the market to absorb large issues. For companies with a market cap between ₹1 lakh crore and ₹5 lakh crore, Sebi has mandated a minimum public offer of ₹6,250 crore or 2.75% of post-issue market cap, whichever is higher.
There will be no change in norms for IPOs of companies with a market cap below ₹4,000 crore, Pandey added. The Sebi board rejected a proposal to cut the IPO quota for retail investors from 35% to 25%, with Pandey saying retail participation is crucial for the orderly development of equity markets.
This story is from the September 13, 2025 edition of The New Indian Express Kottayam.
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