Sebi may announce exemptions for few PSBs, CPSEs to meet minimum public shareholding norms: Report

Markets regulator Sebi may announce exemptions for public sector banks (PSBs) and central public sector enterprises (CPSEs) to meet 25 per cent minimum public shareholding by August 2024, a media report suggested adding that they will meet the requirements but gradually. The government has no plans to sell stake in PSU banks at present, CNBC TV18 reported. Business Today could not independently verify the report.

As per the report, PSBs are raising capital via qualified institutional placements and that the government stakes are also getting diluted in the process. Central Bank, Indian Overseas Bank (IOB), UCO Bank and Punjab & Sind Bank are a few PSBs with over 90 per cent government stake. The government owned over 80 per cent stake in Bank of Maharashtra, as per the report.