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Sebi Revised Guidelines on Share Buyback

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Sebi Revised Guidelines on Share Buyback
Table 1: Comparison of Share Buy Back Regulations in ten largest markets

2013
Analysis of Share Buy-Back Regulation Amendment by SEBI

BFMS TERM PAPER
Group 14 Gaurav Kumar - 1211095

Tamoghna Sadhu - 1211231 Phalguni
8/6/2013

- 1211363
0

Table of Contents

Introduction ..................................................................................................................................... 2 Analysis of Effect on Share Prices after Buy Back Announcement in India .................................. 2 Background of Buyback Regulations in India ................................................................................ 3 Modes of Share Repurchase............................................................................................................ 4 Reasons for repurchase ................................................................................................................... 4 Share Repurchasing Regulations in Other Countries...................................................................... 4 SEBI Amendment 2013 .................................................................................................................. 9 o o o o o o o Reduction in the period allowed for repurchase............................................................... 9 Restrictions on minimum number of shares bought back ................................................ 9 Raising further Capital ..................................................................................................... 9 Creation of Escrow Account ............................................................................................ 9 Window for Odd Lots ...................................................................................................... 9 Future Repurchase ............................................................................................................ 9 Restriction on Trading by promoters
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