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Sebi looking to simplify de-listing process to make it investor friendly, says report

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The Securities and Exchanges Board of India (Sebi) is looking if it can do away with the reverse book-building method of price discovery for de-listing companies, The Hindu BusinessLine reported.

Sebi looking to simplify de-listing process to make it investor friendly, says report
The Securities and Exchanges Board of India (Sebi) is considering to replace the current delisting method with the tender offer route, The Hindu BusinessLine reported.
The current reverse book-building method takes the average closing price of an equity share in the previous six months, which is set as the floor or the minimum price that the shareholders will have to be paid by the promoters who intend to de-list.
The tender offer route requires the company promoters to give shareholders a price range, the report said citing a source close to the development.
SEBI wants to simplify the process of de-listing companies from stock exchanges to plug holes in the rules that could lead to potential misuse.

Market Movers

CompanyPriceChng%Chng
Hindalco458.10 41.80 10.04
Tata Steel1,458.60 93.60 6.86
Bajaj Finserv14,599.05 628.50 4.50
SBI441.55 16.05 3.77
JSW Steel748.40 26.70 3.70
CompanyPriceChng%Chng
Tata Steel1,459.00 93.85 6.87
Bajaj Finserv14,590.45 625.20 4.48
SBI441.75 16.30 3.83
HCL Tech1,007.60 24.95 2.54
Sun Pharma703.25 15.70 2.28
CompanyPriceChng%Chng
Hindalco458.10 41.80 10.04
Tata Steel1,458.60 93.60 6.86
Bajaj Finserv14,599.05 628.50 4.50
SBI441.55 16.05 3.77
JSW Steel748.40 26.70 3.70
CompanyPriceChng%Chng
Tata Steel1,459.00 93.85 6.87
Bajaj Finserv14,590.45 625.20 4.48
SBI441.75 16.30 3.83
HCL Tech1,007.60 24.95 2.54
Sun Pharma703.25 15.70 2.28

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.2850-0.0900-0.12
Euro-Rupee88.25500.04400.05
Pound-Rupee103.70500.17900.17
Rupee-100 Yen0.67830.00170.26