India Seeks Trading Halts to Aid $11 Billion of Asset Sales
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India is seeking to suspend trading in shares of companies in which it plans to sell stakes, as part of a plan to raise $11.2 billion from asset sales in the next financial year.
The finance ministry has proposed to the Securities and Exchange Board of India, the market regulator, a halt in trading on days the government offers its stake, Disinvestment Secretary Aradhana Johri said in an interview in her office in New Delhi. A cap on fluctuations in share prices the day before has also been suggested, she said.