Markets regulator Sebi has relaxed the framework governing the issue of shares with superior voting rights (SR shares), a move that will help new-age technology companies. The Securities and Exchange Board of India (Sebi) said promoters who have a net worth of over Rs 1,000 crore can have superior voting rights in their companies, raising it from the current Rs 500 crore.
"The net worth of the SR shareholder, as determined by a registered valuer, shall not be more than Rs 1,000 crore," Sebi said in a notification on Tuesday.
Explaining further, the regulator said while determining the individual net worth of
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