Regulation 22E - Methodology of acceptance of bids - Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018

1 [Methodology of acceptance of bids: 22E. (i) The buy-back offer shall be kept open for a minimum of two trading days. (ii) Securities holders can submit bids for any number of shares or other specified securities of the company, not exceeding the total number of securities in the relevant category, at a price within the price range. (iii) In the event that, the bids are more than the buy-back size: a. The price at which hundred per cent of the buy-back size is reached shall be the buy-back price; and b. shares or other specified securities tendered at or below the buy-back price shall be accepted at the buy-back price and in proportion to the size of the bids received. (iv) In the event that the bids are less than the buy-back size; all the shares or other specified securities tendered shall be accepted at the highest bid price. (v) Once the public announcement is made, the buy-back shall not be withdrawn or terminated and bids once placed shall not be withdrawn. ] *************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2023/120 dated 07-02-2023 , w.e.f. thirtieth day from the date of their publication in the Official Gazette