SEBI Circular
Cos may subscribe to NCD issue in trading window closure period, says SEBI
This story was originally published at 19:02 IST on 30 December 2024
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NEW DELHI – Listed companies can subscribe to issues of non-convertible securities during the trading window closure period under insider trading regulations, the Securities and Exchange Board of India said in a circular Monday. The change has come into force with immediate effect.
As per SEBI's regulations, the trading window restrictions for listed companies already exclude transactions such as acquisition of shares by conversion of warrants or debentures and subscription to rights issue, further public issue, and preferential allotment.
In July 2020, SEBI, through a circular, had extended the exemption from trading window restrictions for listed companies to transactions in respect of offer for sale and rights entitlement. The exemptions to the specified transactions under the regulations and circulars apply only if they are undertaken in accordance with the mechanisms specified by SEBI from time to time. End
Reported by Rajesh Gajra
Edited by Rajeev Pai
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