87 firms yet to obey MPS norms

Nearly 87 actively-traded companies, including 75 private entities and 12 state-run units, are yet to comply with the minimum public shareholding (MPS) norms stipulated by SEBI.

“We estimate a further sale of around $1.9 billion by June-end deadline as 75 private sector companies are yet to comply with the 25% MPS norms. Another 12 PSUs have to comply with the MPS requirement of 10% by August 2013,” Sanjeev Prasad, senior executive director, Kotak Institutional Equities said.