The government is trying to send a signal it wants to stimulate the economy and the stock market.
Regulator may relax norms to help companies achieve 25% public float.
With shares of most companies listed this year slipping below their issue prices and two initial public offerings (IPOs) already withdrawn, the scenario has remained challenging for the primary market.
A more proactive government and some level of fiscal discipline are needed to sustain the current rally, says Suresh Mahadevan, managing director and head of equities, UBS Securities (India).
According to the new takeover guidelines, if they buy 25 per cent or more, they will have to make an open offer for another 26 per cent.
Investment bankers generally laugh all the way to the bank once shares get listed on the bourses, but they may have to hang around a bit longer. The Securities and Exchange Board of India (Sebi) is planning to make the bankers managing an issue responsible for the end-use of issue proceeds.
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