Market regulator SEBI has reduced the timeframe for completion of buyback of shares by companies to 34-44 days, a decision which could facilitate the government in getting closer to its ambitious disinvestment target of Rs 40,000 crore for the current fiscal. Earlier, the buyback process could take anywhere between 63 to 114 days. These changes form a part of amendments made by the regulator in the SEBI (Buyback of Securities) Regulations, 1998. They have come into effect from January 3. “The timeline for various activities involved in the buyback process have been revised which shall result in substantial reduction of time taken for completion of buyback,” SEBI said while announcing the changes.
Source: The Hindu Business line
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