Regulation 17 - Opening of the offer on stock exchange - Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018

Opening of the offer on stock exchange: 17. (i) The identity of the company as a purchaser shall appear on the electronic screen when the order is placed; 1 [ (ii) the buy-back offer shall open not later than four working days from the 2 [ date of public announcement ] and shall close:- (a) within six months, if the buy-back offer is opened on or before March 31, 2023; (b) within 66 working days, if the buy-back offer is opened on or after April 1, 2023 and till March 31, 2024; and (c) within 22 working days, if the buy-back offer is opened on or after April 1, 2024 and till March 31, 2025: Provided that with effect from April 1, 2025, the option of open market buy-back through the stock exchange shall not be available to any company except in cases where the buyback offer has opened on or before Mach 31, 2025. ] *************** NOTES:- 1. Substituted 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 before it was read as:- (ii) The buy-back offer shall open not later than seven working days from the date of public announcement and shall close within six months from the date of opening of the offer. 2. Substituted vide Notification No. SEBI/LAD-NRO/GN/2024/210 dated 20-11-2024 before it was read as, record date