- Markets regulator Sebi has come out with new rules for re-classification of a promoter as a public investor in its Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regulations, 2018.
- The promoter(s) seeking re-classification and persons related to the promoter(s) seeking re-classification shall not together, hold more than ten percent of the total voting rights in the listed entity.
- Furthermore, the promoter seeking re-classification must not be a wilful defaulter or a fugitive economic offender.
