SEBI Mulls Cutting Down Timelines For Open, Buyback Offers
NDTV
The proposed changes would bring down the overall time taken for completion of open offers to 42 working days from the current 62 working days
To reduce the overall time taken for the completion of open and buyback offers, markets regulator Securities and Exchange Board of India (SEBI) has suggested changes in the timelines for procedural activities, including a lesser time period for tendering shares.
The proposed changes would bring down the overall time taken for completion of open offers to 42 working days from the current 62 working days, while in the case of buyback offers, the time period will reduce to 36 working days from 43 working days at present.
According to the regulator, the changes would be "investor-friendly and make the process more efficient".
In this regard, the watchdog has issued a consultation paper, and public comments have been sought on it till April 15.
