Sebi146;s U-turn

8226; Who gains? As many as 326 big-cap companies will get away from diluting public stakes. Several companies like Reliance, Wipro etc will benefit from the Sebi move.

8226; Who loses? Small and medium companies with less than 25 public holding will have to make public offers to maintain this public holding. They will suffer from Sebi8217;s discriminatory move.

EXPERT-TALK

8216;8216;The discrimination among companies is not a step in the right direction. Just last month, the Sebi Chairman was talking about more public shareholding in all companies including the MNCs. This U-turn has taken us by surprise8217;8217;.

8211; Kirit Somaiya, President, IGF

8216;8216;In London Stock Exchange, a company with only 1 per cent public shareholding can be listed. It is a right step8230; and part of the liberalisation process8217;8217;.

8211; Rajesh Kapadia, President, Indian Merchants Chamber