SEBI (Buy Back of Securities) Regulations, 1998 (hereinafter referred to as “Buy Back Regulations”) were amended vide notification dated August 08, 2013 with an objective of aligning the regulatory requirements with the changing market realities and enhancing the efficiency in the Buy Back process. The amended regulation 15(i) of Buy Back Regulations requires companies to upload information regarding shares or other specified securities bought back on its website as may be specified by SEBI and submit the same to the respective Stock Exchanges.
Regulation 20(j) of Buy Back Regulations mandates Merchant Bankers to file a postoffer report with SEBI as may be specified by the Board.
The necessary formats to enable the listed companies and the merchant bankers to make disclosures and ensure compliance with the extant regulatory requirements, are specified in Annexure 1 and 2, respectively (which are available on SEBI website in this circular).
This Circular shall come into force with immediate effect.