SEBI plans to relax holding limit to 15%

Promoters of listed companies whose shareholding falls below 15 per cent and those who do not play any role in the dayto-day management may get to opt out of the ‘promoter’ category. SEBI put out a public consultation paper for proposing changes to the minimum threshold for voting rights for reclassification of a promoter as a public shareholder and suggested all promoter entities disclose shareholding even in the case of ‘nil’ holding.