SEBI extends relaxations of norms for buy back, open offers

Source :IANS
Author :IANS
Last Updated: Tue, Jul 28th, 2020, 15:13:09hrs

Mumbai: The Securities and Exchange Board of India (SEBI) on Monday extended the relaxations on its regulations for buy back and open offers up to December 31.

The securities market regulator in May granted one-time relaxations from strict enforcement of certain regulations of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and the SEBI (Buy back of Securities) Regulations, 2018 pertaining to open offers and buy-back through tender offers opening upto July 31.

"Based on the representations received from the market participants, the validity of relaxations is further extended and shall be applicable for open offers and buy back through tender offers opening upto December 31, 2020," said the SEBI circular.

In another development, the regulator has introduced a one-time settlement scheme for entities that executed trade reversals in the stock options segment of BSE from April 1, 2014, to September 30, 2015.