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SEBI amended the Buy-Back of Securities Regulations, 2018 to tighten open market buy-back conditions and timelines. From 1 August 2026, open market buy-back through stock exchange must be below 15% of paid-up capital and free reserves, assessed on standalone and consolidated financials, and a company may not propose buy-back that breaches minimum public shareholding norms. The amendments also prescribe fresh announcement, opening and closing timelines, require electronic intimation to existing shareholders, freeze promoter and promoter group holdings at ISIN level during the offer period, and make merchant banker appointment discretionary, with specified compliance duties shifting to the company and other named intermediaries.
SEBI amended the Buy-Back of Securities Regulations, 2018 to tighten open market buy-back conditions and timelines. From 1 August 2026, open market buy-back through stock exchange must be below 15% of paid-up capital and free reserves, assessed on standalone and consolidated financials, and a company may not propose buy-back that breaches minimum public shareholding norms. The amendments also prescribe fresh announcement, opening and closing timelines, require electronic intimation to existing shareholders, freeze promoter and promoter group holdings at ISIN level during the offer period, and make merchant banker appointment discretionary, with specified compliance duties shifting to the company and other named intermediaries.
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