Sebi to reduce timelines to complete repurchases, unlock offers

Market regulator Sebi has proposed reducing timelines for completing buybacks and opening offers. Currently, the total time taken to complete the share buyback process is 43 days, which Sebi intends to reduce to 36 days. In the meantime, the open offer takes 62 working days to complete, and it is proposed to reduce it to 42 working days.

“Given the technological advances in digital and financial technology and the changes that have been made in the way we tender and share equity are settled, there is a sense of need to revise the overall timelines of procedural activities,” Sebi said in an advisory paper.

The organizer has detailed the various changes that need to be made to shorten the schedule. This includes shortening the stock bidding process by five days in the case of both buybacks and open offers.

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