If its post-listing public shareholding is below 15%, it must reach 15% public float by year 5 and 25% by year 10. The capital market as a whole, fostering more high-profile listings that might have otherwise remained unlisted due to regulatory constraints. Case Studies Prompting the ChangeSeveral large companies have been noticeably affected by India’s current minimum public offer (MPO) and minimum public shareholding (MPS) rules, facing challenges in diluting required equity quickly or meeting tight public float deadlines. The LIC IPO in 2022 was the largest ever in India, requiring immediate massive dilution to meet public shareholding norms. Fresh Public Issue/Further Public Offer (FPO):Companies may issue new shares to the public to raise capital and simultaneously increase public shareholding to reach the 25% requirement.