The capital market regulator SEBI’s board approved several proposals, including decisions on share buyback, exchange governance, and market infrastructure, during its meeting on Tuesday. Get more Markets News and Business News on Zee Business.
Under the proposal, Sebi has proposed to introduce a glide path with respect to reduction in the maximum limit and the time period for completion of the buyback offer under the stock exchange mechanism, according to the consultation paper. Get more Markets News and Business News on Zee Business.
Currently, rules provide that buyback from the open market through the stock exchange should be less than 15 per cent of the paid-up capital and free reserves of the company, based on both standalone and consolidated financial statements of the company.