InvestorQ : Is it true that the SEBI also wants to tweak the delisting process on the stock exchanges?
Dia Deshpande made post

Is it true that the SEBI also wants to tweak the delisting process on the stock exchanges?

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Sam Eswaran answered.
6 months ago
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There are some key changes that the SEBI has proposed to the reverse book building or the RBB process used for such delisting. The company will have to convene a board meeting to approve delisting within 21 days of getting the proposal. To avoid fiascos like LIC and Vedanta, companies cannot disclose any unconfirmed bids to the exchange.

In the case of Vedanta, bids worth 2 crore shares had vanished from the system in the last minute leaving the company short of target of 90% overall. The details of the success or otherwise of the RBB process must be made public within 2 hours of closure of bids. All these will surely go a long way.

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