The Securities and Exchange Board of India on 7th February, 2023 has issued the Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 2023. The amendment provides that the letter of offer for buyback to be prepared by the company in accordance with these regulations shall contain a specific disclosure of the consent obtained by the company from its lender(s).
In case of a buy-back through tender offer, the Board of Directors of the company may, till one working day prior to the record date, increase the maximum buy-back price and decrease the number of securities proposed to be bought back, such that there is no change in the aggregate size of the buy-back.
