Vrisha Ltd., a company listed on the NSE has a total number of 11,00,00,000, issued and fully paid-up equity shares as on 31st May, 2025, out of which Retail and Other Public Shareholders hold 2,57,50,000 shares, Mutual

Maximum permissible non-public shareholding in a listed company Maximum permissible non-public shareholding is derived based on the minimum public shareholding requirement under the Securities Contracts (Regulations) Rules, 1957 ("SCRR"). Rule 19A of SCRR requires all listed companies (other than public sector companies) to maintain public shareholding of at least 25% of share capital of the company. Thus, by deduction, the maximum number of shares which can be held by promoters i.e. (Maximum permissible non-public shareholding) in a listed company (other than public sector companies) is 75% of the share capital. Calculations for Vrisha Ltd.: Retail and Other Public Shareholders = 2,57,50,000 shares Mutual Funds holding = 40,00,000 shares Foreign Portfolio Investors (FPIs) = 32,50,000 shares Insurance Companies holdings = 5,50,000 shares Total Public Shareholding = 2,57,50,000 + 40,00,000 + 32,50,000 + 5,50,000 = 3,35,50,000 shares Total Issued and Fully Paid-up Equity Shares = 11,00,00,000 shares Percentage of shareholding other than promoter group (Public Shareholding) = (3,35,50,000 / 11,00,00,000) * 100 = 30.5% Percentage of Promoter Shareholding = 100% - 30.5% = 69.5% This percentage of the promoter group in the company which is well within the Maximum permissible non-public shareholding norms (75%). Thus, Vrisha Ltd is compliant with Maximum permissible non-public shareholding norms.