SEBI raises limit on public offering

BANGALORE: The Securities and Exchange Board of India (SEBI) today announced at an event in Mumbai that all companies with less than 25 percent offering for the public, would have to increase this holding to 25 percent. This would stipulate companies like Wipro, which has 17 percent public holding, to increase their offering by 8 percent.

When CyberMedia News contacted Suresh Senapathy, Wipro's CFO for comment he said that he would have to go through the details of the order before speaking on it.