Sebi asks cos to make public details of buyback activity

 Market regulator Sebi on Tuesday asked listed companies to make public the details of their buyback activities as required under new norms.

Besides, merchant bankers are mandated to file a post-offer report with Sebi. It said listed companies would be required to submit details regarding the total amount earmarked for buyback, cumulative amount utilised for buyback till date, maximum number of shares that can be bought back and number of shares bought back during the current reporting period.

On the other hand, merchant bankers must disclose details like date on which previous buyback was authorised and completed, amount earmarked for current buyback, whether the amount utilised is less than 50 per cent of amount earmarked, release date of advertisement and name of newspapers where it was published.

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