Volume : IV, Issue : XII, December - 2015

DELISTING OF SECURITIES -REVERSE BOOK BUILDING PROCESS.

Ms. Varsha Kshirsagar

Abstract :

Securities and Exchange Board of India has issued the SEBI (Delisting of Securities) Guidelines 2003’ for delisting of shares from stock exchanges. National Stock Exchange now provides online reverse book building for promoter/ acquirer through its trading network which spans various cities and towns across India. The Reverse Book Building is a mechanism provided for capturing the sell orders on online basis from the share holders through respective Book Running Lead Managers (BRLMs) which can be used by companies intending to delist its shares through buy back process. It is now felt that the reverse book-building process would provide the transparent and fair mechanism to determine an exit price for de-listing of securities and would ensure investors‘ participation in the whole de-listing process. Main objective of the paper is to explain Reverse Book Building process in detail.

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Article: Download PDF    DOI : https://www.doi.org/10.36106/gjra  

Cite This Article:

Ms. Varsha Kshirsagar Delisting of Securities -Reverse Book Building Process. Global Journal For Research Analysis, Vol: 4, Issue: 12 December 2015

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