In a move that could kick-start the government's divesment programme as well as help promoters of companies to sell a part of their holdings, the capital market regulator Sebi on Tuesday allowed auctioning of securities through stock exchanges and introduced a new method for institutional placement of stocks. As per the auctioning route, a special window can be used by promoter stakeholders to sell at least 1% of the paid-up capital of a company. This will be similar to the block-deal mechanism for secondary stock market transactions, but with lesser restrictions.
Source : Economic Times
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