The timeline for completion of buybacks through tender offers has been reduced by 18 days, Sebi said.Mumbai: The Securities and Exchange Board of India (SEBI) has tweaked its SEBI Regulations 2018 rules on buyback of shares by companies.Among the amendments, companies can now use 75 per cent of the proceeds of the buyback undertaken through the stock exchange route from the existing minimum of 50 per cent.The Sebi has said the regulator has brought amendments to SEBI (Buy-back of Securities) Regulations, 2018, after considering the various suggestions received from stakeholders.Some of the amendments brought in were buyback done through stock exchanges route to be phased out in a gradual manner and increasing minimum utilisation of the amount earmarked for buyback through stock exchange route from existing 50 per cent to 75 per cent, according to a the regulator’s statement released on Tuesday.Other two amendments are creation of a separate window on stock exchanges for undertaking buyback till the time buyback through stock exchange is permitted and buyback through tender offer route.The timeline for completion of buybacks through tender offers has been reduced by 18 days, Sebi said. Sebi has also accepted the recommendations of the working group on improving governance standards at exchanges – new rules include increased accountability of directors, stricter investment policy and data sharing.(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)Featured Video Of The DayMarkets Surge Over 1%, Close At New Record High
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