Open market buy-back disclosures require prompt public announcement, prescribed filings, and timed shareholder intimation. Open market buy-back requires appointment of a merchant banker and a public announcement within two working days of approval. The announcement must follow the prescribed disclosure schedule and include the methodology for prior intimation before the offer opens. The book building process must begin within seven working days, and an electronic intimation must be sent within one working day to shareholders as on the date of the announcement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Open market buy-back disclosures require prompt public announcement, prescribed filings, and timed shareholder intimation.
Open market buy-back requires appointment of a merchant banker and a public announcement within two working days of approval. The announcement must follow the prescribed disclosure schedule and include the methodology for prior intimation before the offer opens. The book building process must begin within seven working days, and an electronic intimation must be sent within one working day to shareholders as on the date of the announcement.
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