Sebi reinstates open market buybacks via exchanges

SEBI has approved the reintroduction of open market buybacks through stock exchanges starting August 1, offering listed companies greater flexibility in capital management. Buybacks must be completed within 66 days with 40 percent of funds deployed early, and merchant banker appointments are now optional, reducing compliance costs. Mutual funds receive relaxed borrowing norms for liquidity, while Alternative Investment Funds will benefit from faster fundraising processes.