Operational Guidance on Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 2023


SEBI on March 08, 2023 has notified Operational Guidance on Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 2023. The amendment regulations shall be made effective for all buy-back offers where the Board of Directors of the company approve resolution with respect to Buy-back on or after 30th day of the date of notification of this amendment in the official gazette (i.e. March 09, 2023).

the following restrictions have been set-out for the companies undertaking buy-back through stock exchange route:

  1. The company shall not purchase more than 25% of the average daily trading volume (in value) of its shares or other specified securities in the ten trading days preceding the day in which such purchases are made.
  2. The company shall not place bids in the pre-open market, first thirty minutes and the last thirty minutes of the regular trading session.
  3. The company’s purchase order price should be within the range of ±1% from the last traded price.

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