Sebi extends relaxation in procedural norms for open, buyback offers

The regulator, in May, had granted one-time relaxations from strict enforcement of SAST Regulations and norms for buyback of securities through open and buyback tender offers

Markets regulator Sebi on Monday extended relaxation in procedural requirements for listed entities with respect to open and buyback offers till December 31 amid coronavirus pandemic.

The regulator, in May, had granted one-time relaxations from strict enforcement of SAST (Substantial Acquisition of Shares and Takeovers) Regulations and norms for buyback of securities through open and buyback tender offers opening till July 31.

"Based on 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 up to December 31, 2020," the Securities and Exchange Board of