https://www.taxtmi.com/acts?id=35131 Regulation 17 governs buy-backs through book building: the authorising resolution must fix a maximum price; the company must appoint a merchant banker, make a public announcement at least seven days before commencement, and deposit escrow funds prior to that announcement with the amount tied to the maximum price. The announcement must detail methodology, acceptance format and bidding centres. The electronically linked book-building facility must have at least thirty bidding centres; the offer shall remain open 15-30 days. The merchant banker and company set the buy-back price from acceptances; the highest accepted price is paid to all accepted holders, and verification and payment rules of regulation 11 apply mutatis mutandis. en-us Wed, 16 Jan 2019 16:35:15 +0530 Thu, 17 Jan 2019 12:48:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=35131 Regulation 17 governs buy-backs through book building: the authorising resolution must fix a maximum price; the company must appoint a merchant banker, make a public announcement at least seven days before commencement, and deposit escrow funds prior to that announcement with the amount tied to the maximum price. The announcement must detail methodology, acceptance format and bidding centres. The electronically linked book-building facility must have at least thirty bidding centres; the offer shall remain open 15-30 days. The merchant banker and company set the buy-back price from acceptances; the highest accepted price is paid to all accepted holders, and verification and payment rules of regulation 11 apply mutatis mutandis. Act-Rules SEBI Wed, 16 Jan 2019 16:35:15 +0530 https://www.taxtmi.com/acts?id=35131