Sebi Issues Delisting Guidelines

The Securities and Exchange Board of India (Sebi) has accepted the delisting of securities guidelines, paving the way for the establishment of the Central Listing Authority (CLA).

The notification of the Sebi (Central Listing Authority) Regulations, 2003, will bring about uniformity in the exercise of due diligence while scrutinising listing applications.

Under the new guidelines, the promoter of a company which wants to delist from the stock exchange shall determine an exit price in accordance with the book building process, that is, the average of 26 weeks