The Securities and Exchange Board of India (SEBI), on May 17, 2024, notified Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 2024 to further amend the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018.
The following has been stated-
•In regulation 19, after the existing proviso and Explanation, the following new proviso shall be inserted, namely,- “Provided further that the effect on the price of the equity shares of the company due to material price movement and confirmation of reported event or information may be excluded as per the framework specified under sub-regulation (11) of regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 for determination of the volume weighted average market price.”
•In regulation 22B, after sub-regulation (v), the following new sub-regulation (vi) shall be inserted, namely,- “(vi) The effect on the price of the equity shares of the company due to material price movement and confirmation of reported event or information may be excluded as per the framework specified under sub-regulation (11) of regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 for calculation of the lower end of the price range under this regulation.”
[Notification No. SEBI/LAD-NRO/GN/2024/180]
