MANU/SSMD/0014/2023

Ministry : Securities and Exchange Board of India

Department/Board : Corporation Finance Department

Circular No. : SEBI/HO/CFD/PoD-2/P/CIR/2023/35

Date : 08.03.2023

Notification/Circulars Referred : link MANU/SREG/0008/2023

Subject: Capital Market

Industry: Finance

Citing Reference:
link MANU/SREG/0008/2023  Referred

To,

All Listed Entities
All Recognized Stock Exchanges
All Registered Merchant Bankers

Dear Sir/Madam,

Operational Guidance - Amendment to Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018

1. SEBI has notified Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 2023 on February 07, 2023. The link for the same.

Applicability of Regulations

2. The aforementioned amendment regulations shall come into force on 30th day of the date of notification.

3. Accordingly, 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).

Buyback through Stock Exchange Route- Restrictions on placement of bids, price and volume

4. As per Clause (vi) of Regulation 16 of the Buy-back Regulations, the buy-back through stock exchanges shall be subject to the restrictions on placement of bids, price and volume, as specified by SEBI.