New Delhi, March 25
To encourage listing of start-ups, markets watchdog Sebi on Thursday approved a slew of relaxations to norms, including reducing holding period for pre-issue capital.
Besides, the regulator approved revamping of delisting rules and rationalising the existing framework related to reclassification of promoter and promoter group entities.
At the meeting of Sebi board on Thursday, it was also decided to introduce new requirements for sustainability reporting by listed entities. This new report will be called the Business Responsibility and Sustainability Report (BRSR) and will replace the existing Business Responsibility Report (BRR).
The BRSR will be applicable to the top 1,000 listed entities (by market capitalisation) for reporting on a voluntary basis for FY 2021-22 and on a mandatory basis from 2022-23. PTI