SEBI ISSUES GUIDELINES FOR BUYBACK DISCLOSURES.
The Securities and exchange board of India (SEBI) has prescribed a standard format for a
letter of offer in a buyback. The circular comes into force with immediate effect. The disclosures include details of the buyback; its necessity; management view on the likely impact of the buyback; basis of offer price and the source of funds for the buy back; change in capital structure and shareholding pattern after the buyback; financial information about the company; procedure for tender/offer and settlement and collection centres; taxation issues; process and methodology for the buyback and other details required as per the extant regulations.
letter of offer in a buyback. The circular comes into force with immediate effect. The disclosures include details of the buyback; its necessity; management view on the likely impact of the buyback; basis of offer price and the source of funds for the buy back; change in capital structure and shareholding pattern after the buyback; financial information about the company; procedure for tender/offer and settlement and collection centres; taxation issues; process and methodology for the buyback and other details required as per the extant regulations.
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