New Delhi, July 3 -- The Securities and Exchange Board of India (Sebi) on Thursday, 25 June, relaxed rules on pricing shares in preferential allotments, in a relief for companies struggling to raise funds amid the coronavirus upheaval. Separately, the market regulator also amended the takeover code, a move that helps investors get a higher price when an open offer is delayed.
Mint had first reported on 22 June that Sebi will amend the preferential allotment norms.
Currently, under Sebi's Issue of Capital and Disclosure Requirement (ICDR) rules, a firm that seeks to sell preferential shares has to consider two share price figures-the average of weekly high and low for 26 weeks, and the average of weekly high and low for two weeks preceding...