In June 2010, the Ministry of Finance, Government of India, had issued guidelines pertaining to minimum public shareholding for all listed corporates. The guidelines were later revised in August 2010. As per the guidelines, all private sector listed corporates must have at least 25% public holding while listed PSUs should maintain a minimum public holding of at least 10%. The corporates were given three years to abide by the guidelines. The deadline for companies to achieve the stated level of public holding is June 2013 in case of private listed companies and August 2013 in case of PSUs.
Our analysis of the shareholding pattern of all actively traded companies reveals that there are 85 private companies and 12 PSU companies yet to comply with the minimum public share holding norm. These companies would need to offload equity to the tune of | 20315 crore, which constitutes ~ 4.8% of the total market capitalisation of these companies.
Similarly, an analysis of BSE 500 companies reveals that promoters of 39 companies (31 private and eight PSU companies) would be required to offload equity of ~ |13394 crore. Of the total, promoters of MNCs would need to offload equity to the tune of ~ | 3016 crore while PSUs need to offload ~ | 3459 cr
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