Amendments to Equity Listing Agreement

[Posted by Umakanth Varottil]

Earlier this month, SEBI issued amendments to the Equity Listing Agreement. The amendments have been discussed in the SEBI Updates Blog.

There are a number of procedural changes, including requirements regarding reporting of shareholding patterns of listed companies and announcements regarding significant corporate events. More importantly, clause 40A of the listing agreement has been amended to incorporate the public float norms announced in June 2010 (as amended in August 2010), which require listed companies to maintain a public shareholding of 25%.