Whalesbook
Market regulator SEBI jaldi hi open market buybacks ko wapas laane wala hai. Companies ke liye shareholders ko paisa wapas dene ka yeh ek flexible tareeka hoga. Lekin is baar kuch strict rules bhi honge, jaise ki **66 din** ka execution window aur promoter restrictions, taaki retail investors ka fayda ho.
Kya hua?
Securities and Exchange Board of India (SEBI) ab 19 June ko hone wali board meeting mein open market buybacks ko discuss karke approve kar sakta hai. Pehle yeh mechanism 2023 mein regulatory aur tax issues ke wajah se band kar diya gaya tha. Ab SEBI ise wapas laane ki soch raha hai, lekin is baar pehle se zyada strict rules ke saath, taaki koi gadbad na ho aur market manipulation na ho sake.
Buybacks kyu important hain?
Share buyback companies ke liye apne extra cash shareholders ko wapas dene ka ek tareeka hai. Jab company shares buyback karti hai, toh market mein shares ki total quantity kam ho jaati hai, jisse Earnings Per Share (EPS) improve ho sakta hai. Investors ke liye, dividends ke muqable yeh paisa wapas paane ka zyada tax-efficient tareeka ho sakta hai. Open market buyback mein, company stock exchange se seedha shares buy karti hai.
Naye Niyam aur Suraksha-
Purani issues ko address karne ke liye, SEBI ne kuch safeguards propose kiye hain. Ismein sabse important hai ki buyback process sirf 66 working days mein poora karna hoga. Company yeh process lambi nahi kheench payegi. Plus, allocated buyback amount ka minimum 40% pehle half execution period mein use karna hoga.
Sabse zaruri baat, regulator ne promoter purchases par bhi restrictions lagane ka proposal diya hai. Yeh isliye taki koi conflict of interest na ho aur stock price par unfair influence na pade. Ye rules banaye gaye hain taaki companies sirf buyback announce karke na reh jayein, balki use genuinely implement bhi karein.
Aur bhi regulatory updates
Buybacks ke alawa, SEBI kuch aur bhi ease-of-doing-business measures par kaam kar raha hai. Jaise ki 'GARUDA' mechanism, jiska goal hai Alternative Investment Funds (AIFs) ko launch karne mein speed lana, approval time ko kam karke sirf 10 working days tak karna.
SEBI securities ke transmission (heirs ko shares transfer karne ka process) ko bhi simplify kar raha hai. Physical shares ke liye monetary threshold badha kar ₹10 lakh aur dematerialised holdings ke liye ₹30 lakh kiya ja sakta hai. Isse families ka paperwork kam ho jayega. Aur haan, SEBI IPOs aur re-listed companies ke liye pre-open call auction framework ko bhi review kar raha hai taaki market mein opening price discover karna easy ho sake.
Investors ko kya track karna chahiye?
Jab yeh naye buyback rules implement ho jayein, toh investors ko companies ke actions par nazar rakhni chahiye. Key cheez hogi company ka commitment 40% utilization rule ke liye pehle half mein. Isse pata chalega ki buyback announcement asli mein value wapas dene ke liye hai ya sirf stock price ko support karne ka signal. Jab rules finalize ho jayein, toh investors company management se sun sakte hain ki woh capital allocation mein buybacks ko preference de rahe hain ya long-term business growth ko.