Dr T.V.Gopalakrishnan , Mumbai , says: This is not a good move. What SEBI should have done is to encourage promoters particularly promoters of well run companies to bring down their holdings in such a manner that retail holding works out to more than 25 percent. The reason for letting promoters auction shares through a special window is not understandable. IF SEBI's INTENTION IS TO allow promoters some exit route, it should be made more transparent and retailers participation in owning shares should be encouraged. Special window approach gives room for doubt.
5 Jan 2012, 2006 hrs IST
(This appeared in ET dt 6/01/12).
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