Big market reforms: Sebi simplifies buyback regulations, changes IPO price band timeline

By: | Updated: June 21, 2018 4:48 PM

The Securities and Exchange Board (SEBI) has approved amendments to buyback and takeover regulations and changed the time for announcing the price band of initial public offering (IPO), chairman Ajay Tyagi told reporters.

Big market reforms: Sebi simplifies buyback regulations, changes IPO price band timelineThe Securities and Exchange Board (SEBI) has approved amendments to buyback

The Securities and Exchange Board (SEBI) has approved amendments to buyback and takeover regulations and changed the time for announcing the price band of initial public offering (IPO) from 5 to 2 days, chairman Ajay Tyagi told reporters. SEBI had made a proposal to bring changes based on suggestions made by the regulator’s Primary Market Advisory Committee (PMAC). In a consultation paper, Sebi had proposed that entities would not be required to file draft papers for rights issue worth up to Rs 10 crore.

In a press conference on Thursday, SEBI chief also informed that enforcement action has been initiated against various entities in NSE co-location case. The watchdog has been probing the alleged lapses in high-frequency trading offered through the National Stock Exchange’s co-location facility. In the coming few days, the enforcement actions would be completed against the entities, he added.

In March, the NSE said Sebi had returned its consent application in the case due to the ongoing investigation.
The exchange’s Rs 10,000 crore IPO has been delayed because of the probe and the regulator had earlier issued show-cause notices to several individuals and the exchange while also probing the role of some brokers.

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