Markets regulator Securities and Exchanges Board of India (Sebi) extended the deadline by two years for public sector undertakings (PSUs) to achieve the 25 percent minimum public shareholding requirement, reported Business Standard quoting sources.

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Sebi has extended the August 21 deadline by two years making it the third time that the regulator is extending the deadline, the report said. The decision will come as a relief to those PSUs whose shareholding is beyond 75 percent, the report added.

While Sebi is responsible for the implementation of the minimum public shareholding requirement, it is the government which has the powers to set the deadlines, the daily said.