Dear Sir \ Madam
The Securities and Exchange Board of India (SEBI) has issued circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2024/51 dated May 21, 2024, regarding Framework for considering unaffected price for transactions upon confirmation of market rumour.
In terms of Regulation 30(11) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”), as amended by SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2024 (link), listed entity is required to verify market rumours, upon material price movement.
As per second proviso to Regulation 30(11) of LODR Regulations, unaffected price shall be considered for transactions on which pricing norms specified by SEBI or the stock exchanges are applicable, provided that the rumour pertaining to such transaction has been confirmed within 24 hours from the trigger of material price movement.
The framework for considering unaffected price is placed as ANNEXURE to this circular and the same shall be applicable to top 100 listed entities with effect from June 01, 2024, and to top 250 listed entities (i.e., next top 150) with effect from December 01, 2024.
The aforesaid circular is attached for reference.
All Listed companies are requested to take note and comply accordingly.
|
Ashok kumar Singh
DGM-Listing Compliance
|
|
Shyam Bhagirath
Manager-Listing Compliance
|
|