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SEBI introduced a special call auction mechanism for price discovery of listed Investment Companies (ICs) and Investment Holding Companies (IHCs) due to infrequent trading and low prices compared to book value. Eligibility criteria include 1-year listing, 50% assets in listed company scrips, and VWAP less than 50% of book value. Stock exchanges must coordinate special auctions, disclose relevant information, and ensure successful price discovery. The mechanism will operate once a year with risk management measures. The circular is u/s 11(1) of SEBI Act 1992 to protect investor interests and regulate the securities market.