Sebi board approves reintroducing open-market window for share buybacks from August 1

SEBI has approved reintroducing the open-market route for share buybacks effective August 1, allowing companies to repurchase shares directly from secondary markets over a 60-day window. The open-market mechanism, previously phased out due to concerns about inefficiencies and inequitable participation, offers greater execution flexibility compared to the current tender offer and odd-lot buyback routes. The move expands capital allocation options for listed firms looking to stagger purchases and return surplus cash to shareholders.