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Securities market regulator SEBI of Friday proposed to reduce the time period taken for share 'buy backs' and 'open offers', on the back of technological advancements made in the tendering and settlement of shares.
Securities market regulator SEBI of Friday proposed to reduce the time period taken for share 'buy backs' and 'open offers', on the back of technological advancements made in the tendering and settlement of shares."Considering the ...
Considering the technological advancements in digital and fin-tech and changes made in the manner of tendering and settlement of shares, a need was felt to review the overall timelines, stated the SEBI paper.
The amount offered by majority shareholders to take their companies off bourses has been the highest in the current financial year, compared to the last 17. The value of such delisting offers in FY21, so far, stands at a record Rs 22,165.5 crore, show numbers from Prime Database. With one month still to go in the financial year, this is already the highest since records are available — since FY04. It is a whopping 4x the previous high of Rs 5,479.4 crore in FY16. During delisting, majority shareholders (promoters) buy back shares from the public to take the company off the stock market....