MUMBAI (Reuters) -India’s market regulator on Friday approved a plan to simplify fund-raising by large companies through an initial public offering.
The Securities and Exchange Board of India said companies can now sell a minimum of 2.5% of their paid-up share capital in their IPO from the current 5% if their market capitalisation is above 5 trillion rupees ($56.65 billion) after the listing.
($1 = 88.2630 Indian rupees)
(Reporting by Nishit Navin; Editing by Anil D’Silva)
