Sebi relaxes sweat equity norms for new-age technology cos

Markets regulator Sebi on Friday decided to provide relaxations on the quantum of sweat equity that can be issued by new-age technology companies listed on the Innovators Growth Platform.

Sebi said the maximum yearly limit of sweat equity shares that can be issued by a company listed on the mainboard has been prescribed at 15 per cent of the existing paid-up equity share capital within the overall limit not exceeding 25 per cent of the paid-up capital at any time.

In the case of the companies listed on Innovators Growth Platform (IGP), the yearly limit will be 15 per cent and the overall limit will be 50 per cent of the paid-up capital at any time, the regulator said in a press release after its board meeting.