Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch Thursday said the regulator would review new proposed delisting regulations and trading plan reforms at its board meeting soon.
SEBI had earlier said it may allow companies to delist shares at a fixed price as against the current reverse book-building process. Certain constituents in the market, in anticipation of the delisting, acquire shares and jack up the price of shares at unsustainable levels. Because of the way in which it (reverse book-building process) is formulated and because of the 90 per cent threshold, there is a possibility of misuse by certain operators who are specialists in the delisting of shares.
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