In early 2008 the Finance Ministry issued a consultation paper on "Requirement of Public Holding for Listing". The Finance Minister also declared in his 2009-10 budget speech that the threshold for non-promoter public shareholding for all listed companies would be raised in a phased manner. This paper discusses the cross-country research on concentrated share ownership and household participation in equity markets. The paper argues that instead of 'forcing' controlling shareholders to dilute their positions the government can achieve its objective more effectively by enhancing minority investor protection in the short run and creating more owners by improving the "Ease of doing business" in the long run.