The Bombay Stock Exchange (BSE) on March 28, 2023, issued a circular regarding a Separate Window for Open Market Buyback through the Stock exchange.
The following has been stated namely: -
• It requested to note that SEBI has notified the Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 2023 on February 07, 2023, and Operational Guidance - Amendment to Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 vide it's circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/35 dated March 08, 2023
• A separate Buyback window is activated, the trading parameters for the same are attached in Annexure I
• It is further requested to note that the amendment to Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 shall be effective for all buy-back offers where the Board of Directors of the company approves the resolution with respect to Buy-back on or after March 09, 2023.
• for the existing ongoing buyback of shares through the open market by the listed companies, there is no change in the existing process and trading parameters for the buyback of shares.
• For more information and clarity, FAQ on Open Market Buyback is attached as Annexure II
Disclaimer: refer to the document to view the Annexures
[Circular No. 20230328-24]
