Cabinet allows ITI Limited to transfer shares to SNIF to meet SEBI’s minimum public shareholding requirement
"M/s ITI Limited will be allowed to transfer the requisite number of shares from President of India to SNIF as and when Capital grant is released in the form of equity infusion to M/s ITI Limited as part of revival plan approved by Cabinet in Feb, 2014 to meet for SEBI's minimum 10% Public Shareholding requirement," read a government statement.
"M/s ITI Limited will be allowed to meet SEBI's requirement of minimum 25% public shareholding by August 2017," it said.
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