India's market regulator on Tuesday said buybacks through stock exchanges would be phased out gradually.
The Securities and Exchange Board of India (SEBI) also increased the minimum utilisation amount for buybacks through stock exchange to 75% from 50%.
The SEBI also said in a statement that it would permit an upward revision of buyback price through tenders until one working day prior to the record date.
The timeline for completion of buybacks through tender offers has been reduced by 18 days, the statement added.
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