Indian Market Regulator to Phase Out Buybacks Through Stock Exchanges
Apr 10,2024 | DAXTROMNSOLAR
The Securities and Exchange Board of India (SEBI) has announced its plans to phase out the practice of buybacks through stock exchanges. This move comes as part of SEBI's efforts to promote transparency and fairness in the Indian stock market.
Under the current regulations, companies can repurchase their own shares from their shareholders through a tender offer on the stock exchanges. However, SEBI believes that this process is open to misuse and can be used to manipulate stock prices, adversely affecting investors' interests.
SEBI intends to introduce new regulations that will require companies to conduct buybacks through a separate window on recognized stock exchanges. This will ensure that the process is transparent and fair, with adequate disclosures made to investors.
This decision by SEBI is a positive step towards strengthening investor protection and promoting market integrity. By ensuring greater transparency in the buyback process, it will enhance trust and confidence among investors in the Indian stock market.
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