Overview
- Finance Ministry notified the Securities Contracts (Regulation) Amendment Rules, 2026 on March 13–14, making the new framework effective upon gazette publication.
- The highest valuation band allows companies above ₹5 lakh crore to list with a 2.5% initial float, with mandated milestones to reach 15% and then 25% public shareholding.
- Other tiers set 2.75% for ₹1 lakh–₹5 lakh crore firms, 8% for ₹50,000 crore–₹1 lakh crore issuers, and 25% at listing for companies up to ₹1,600 crore.
- The rules pair percentage thresholds with rupee minima, including ₹1,000 crore and 8% for ₹50,000 crore–₹1 lakh crore companies and ₹6,250 crore for the ₹1 lakh–₹5 lakh crore band, with exchanges empowered to penalize non-compliance.
- Analysts say the reform clears a key hurdle for anticipated mega IPOs such as Jio Platforms and the National Stock Exchange, with timelines still subject to approvals and market conditions.