August 2, 2019 / 9:50 AM / 3 months ago

India likely to put 35% minimum shareholding rule for listed entities on hold: source

An India Rupee note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration

NEW DELHI (Reuters) - India’s government is likely to put on hold a plan to raise the minimum public shareholding in listed companies to 35% from 25%, a source with direct knowledge of the matter said on Friday.

The government is also looking for ways to ease concerns of foreign portfolio investors that have pulled out of Indian equity markets after a budget announcement of higher taxes for individuals and trusts earning more than 20 million rupees a year, the source said.

Reporting by Aftab Ahmed; Editing by Sanjeev Miglani

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