Grace period for BSE free float rules

Known as free float, current listing rules require companies on the BSE’s main board to have 20% of their shares held by the public.  The new rules, part of a range of changes for equity listings, were initially due to come into effect on January 1, 2019.

Information gathered by BusinessWeek indicates that ahead of the January 2019 deadline, none of the affected listed companies had raised their free float levels to abide by the new requirement.