SEBI has by its circular dt: February 3, 2023 and all its earlier circulars stated that SEBI may consider any other method of achieving min. public shareholding on a case-specific basis. It has further stated that the listed entity shall approach the Board with an application containing relevant details to obtain prior permission.
source https://www.caclubindia.com/articles/sebi-circular-on-achieving-min-public-shareholding-49315.asp
source https://www.caclubindia.com/articles/sebi-circular-on-achieving-min-public-shareholding-49315.asp
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