India reduces minimum public share float, paving way for NSE, Jio listings

India has reduced the proportion of shares large companies must sell when listing on the stock exchange, paving the way for initial public offerings by the National Stock Exchange and Reliance Jio.

The regulator last year proposed to halve the minimum amount of shares large ‌companies had ⁠to offer ⁠in their IPOs, allowing those valued at above 5 trillion rupees ($57 billion) after listing to sell just 2.5% of their paid-up capital.