nav-iconlogoREAD back period has been defined as the

nav-iconlogoREAD IN HINDIlive_tvs Securities and Exchange Board of India after it’s board meeting on Thursday has cut the time for the announcement of price band for initial public offers (IPOs) to two days. Previously five days were given to announce the price band for IPOs.While addressing a press conference after the board meeting on Thursday chairman of the board Ajay Tyagi said that that the market regulator has made changes to the buyback norms and intends to lessen regulations for foreign portfolio investors (FPIs) and mutual funds.

The press release of the meeting says, “Under the new Regulations, the buy back period has been defined as the period between board of directors resolution/date of declaration of results for special resolution authorizing the buyback of shares and the date on which payment consideration is made to the shareholders.”Tyagi also said that in case of Market Infrastructure Institutions (MIIs), foreign shareholding limit will be harmonized to 15 percent. Sebi board has also approved amendments to the share buyback and takeover regulations.He also said that the market regulatory body will also bring in a consultation paper for regulations of third-party entities, which will allow sub-brokers to migrate to authorized person categories, the Sebi chairman said.

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