SEBI Board clears regulatory changes to allow PSU buybacks

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SEBI Board clears regulatory changes to allow PSU buybacks

Market regulator SEBI has cleared the proposal to allow promoters to sell their stake through share auctions. The change will help promoters to maintain 25% public shareholding. The decision was taken at the SEBI board meet today, reports CNBC-TV18’s Aakansha Sethi.

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Market regulator SEBI has cleared the proposal to allow promoters to sell their stake through share auctions. The change will help promoters to maintain 25% public shareholding. The decision was taken at the SEBI board meet today, reports CNBC-TV18's Aakansha Sethi quoting sources.

SEBI board has also approved the regulatory changes to allow public sector unit (PSUs) buybacks.

Due to the volatile stock market scenario, the finance minister had been compelled to defer share sale of state-owned companies like Oil and Natural Gas Corporation , Steel Authority of India Ltd and Indian Oil Corporation . The government had been planning to reduce its deficit via stake sale of public sector units.

Also watch the accompanying video for more details.