Clearing the decks for listing of stock exchanges, capital market regulator SEBI on Monday said 51 per cent stake of bourses could be held with public. This was decided after considering the much-debated Bimal Jalan Committee recommendations which had not favoured listing of stock exchanges.The Board, however, in its meeting in Mumbai accepted several other recommendations of Jalan Committee on Review of Ownership and Governance of Market Infrastructure Institutions, MIIs.The stock exchanges will have diversified ownership and no single investor will be allowed to hold more than 5 per cent except the stock exchange, depository, insurance company, banking company or public financial institution which may hold upto 15 per cent. 51 per cent of the holding of the Stock Exchanges will be held by public, the market.The stock exchanges may be permitted to list when they put in place the appropriate mechanisms for tackling conflicts of interest, it said, adding, the stock exchanges will not be allowed to list on itself.No stock exchange shall be permitted to list within 3 years from the date of approval by SEBI.