In a bid to plug loopholes in the current delisting methodology for companies, SEBI is working to simplify the process to curb any potential misuse.
SEBI Considers Simplifying Delisting Process; To Replace Reverse Book-Building Method
As per the leading business dailies report, the market watchdog Securities and Exchanges Board of India (SEBI) is mulling to replace the existent delisting method for a company from the stock exchanges with the tender offer mechanism.
The report citing a source aware of the development said that the new route being considered will require promoters of the company to provide or quote a price range to the company's shareholders.
Currently, for delisting of companies, reverse book-building process is employed for price-discovery, wherein the average closing price of the stock for the last six months is taken as the minimum or floor price which shall be paid off to the shareholders by the promoters who wish to delist their company from the Indian bourses.
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