Buy-back through book building: merchant banker-led process with public announcement, escrow, electronic bidding, and uniform highest-price payment. A company may conduct a buy-back through book building via a merchant banker-managed process with a public announcement specifying disclosures, methodology, bidding and acceptance formats; an escrow account funded ahead of announcement; an electronically linked transparent bidding facility with multiple bidding centres and terminals; an open offer period within prescribed limits; price determination based on acceptances with the highest accepted price paid uniformly; and applicability of verification, special account opening and payment provisions mutatis mutandis.