TO control the manipulation of shares of a company that has chosen a delisting option from the stock exchanges, the capital market regulator, the Securities Exchange Board of India (SEBI), is appraising delisting rules and regulations for listed companies. The chairperson of the SEBI, Madhabi Puri Buch declared on July 24, 2023, that the governing body will release a discussion paper on this subject by December 2023, seeking comments and inputs from stakeholders and market participants.
Delisting refers to eliminating the securities of a listed company from a stock exchange. Once delisted, the securities of that company can no longer be traded on the stock exchange. Delisting can be either voluntary or compulsory. In voluntary delisting, a company decides to eliminate its securities from the stock exchange. In compulsory delisting, they are eliminated as a punitive measure for the company not making submissions or complying with conditions laid out in the listing agreement within the stipulated timeframes. If a company wants to delist its securities, it must buy back 90% of the total issued shares.
This story is from the August 2023 edition of Indian Economy & Market.
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This story is from the August 2023 edition of Indian Economy & Market.
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