Jethana Ltd is a listed public sector company since 2014. The company has applied for listing of new securities to BSE. The company is having minimum public shareholding of 15% in 2018. As a company secretary advise the

(i) In terms of Rule 19A (1) of the Securities Contracts (Regulation) Rules, 1957, every listed public sector company which has public shareholding below twenty-five per cent. on the commencement of the Securities Contracts (Regulation) (Second Amendment) Rules, 2018, shall increase its public shareholding to at least twenty-five per cent, within a period of 3 years from the date of such commencement, in the manner specified by the SEBI. Jethana Ltd. is having minimum public shareholding of 15% in 2018 which requires to be increased with in a period of 3 years from the date of such commencement of the Securities Contracts (Regulation) (Second Amendment) Rules, 2018. (ii) Minimum public Shareholding: Rule 19A (1) of the Securities Contracts (Regulation) Rules, 1957 stipulates that every listed company shall maintain public shareholding of at least twenty-five per-cent. Sub rule (2) provides that where the public shareholding in a listed company falls below twenty five per cent. at any time, such company shall bring the public shareholding to twenty five per cent. within a maximum period of 12 months from the date of such fall in the manner specified by the SEBI. However, every listed public sector company whose public shareholding falls below twenty five per-cent. at any time after the commencement of the Securities Contracts (Regulation) (Second Amendment) Rules, 2018, shall increase its public shareholding to at least twenty five per-cent, within a period of 2 years from such fall, in the manner specified by the SEBI. (iii) The Central Government may, in public interest, exempt any listed entity in which the Central Government or State Government or public sector company, either individually or in any combination with other, hold directly or indirectly, majority of the shares or voting rights or control of such listed entity, from any or all of the provisions of rule 19A. (iv) Application for listing of new securities: Rule 19(4) of the Securities Contracts (Regulation) Rules, 1957 stipulates that an application for listing shall be necessary in respect of the following: a. all new issues of any class or kind of securities of a company to be offered to the public. b. all further issues of any class or kind of securities of a company if such class or kind of securities of the company are already listed on a recognised stock exchange.