morepen laboratories slips as sebi restricts it from dealing in securities

Mumbai : To ensure greater transparency, markets regulator Sebi on Wednesday decided to mandate enhanced disclosures from certain class of Foreign Portfolio Investors (FPIs), including furnishing granular level details about ownership and economic interests.

The new norms will be applicable for FPIs that concentrate holdings in a single corporate group.

The move is aimed at preventing possible circumvention of Minimum Public Shareholding (MPS) requirements and potential misuse of the FPI route to guard against the inherent risks of opportunistic takeover of Indian companies.