April 28, 2010 6:52 PM

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Govt to pay commission to brokers

The government today said it will pay a commission to brokers selling public offers of state-run firms. <br/><br/>The government, which till now paid little of no commission to brokers, has fixed a commission of 0.35 per cent for selling shares to retail investors and 0.15 per cent for roping in HNI clients. Speaking to reporters in New Delhi, Disinvestment Secretary Sumit Bose said the changes are done to attract more retail demand in the public offers.<br/><br/>Mr Bose said the new provisions will be applicable in all the forthcoming public issue starting with state-run power producer Satluj Jal Vidyut Nigam. Satluj Jal Vidyut Nigam's public issue opens tomorrow.

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