Earlier, when Sebi had floated the consultation paper for the same, overseas investors had raised concerns about local data storage
The Securities and Exchange Board of India (Sebi) board on Tuesday approved phasing out of buybacks through stock exchanges, along with chalking out of governance mechanisms for addressing lapses at market infrastructure institutions (MIIs) like stock exchanges, depositories, and clearing houses.
“We feel the tender route is a more equitable one for buybacks. The other route is vulnerable to favouritism. Except a few, no one knows when the company buyback is going to happen,” Sebi Chairperson Madhabi Puri Buch said after the board meeting.
The regulator has given its go-ahead to increase the minimum utilisation of the amount earmarked for buyback through
First Published: Dec 20 2022 | 9:39 PM IST