SEBI has decided to extend the effective date of implementation for top 100 listed entities by market capitalization, to February 1, 2024, and for the top 250 listed entities by market capitalization, to August 1, 2024.
Mumbai: Market rumors in India have prompted the SEBI capital markets regulator to alter the deadline for confirmation by listed companies. Originally, verification was mandatory for top 100 companies according to market capitalization from October 1, 2023, and top 250 companies from April 1, 2024. However, the deadline has been subsequently postponed to February 1, 2024, providing all listed companies with the opportunity to verify these rumors.
SEBI Extended Last Date: Here’s New One
February 1, 2024 will now be the effective date of implementation for the top 100 listed entities by market capitalization, as determined by SEBI. The top 250 listed entities by market capitalization will have until August 1, 2024 to comply with the new regulations. This decision was recently announced by SEBI.
SEBI’s Extension: Reason Revealed
SEBI has granted top 100 companies additional time to adhere to the new regulations in light of requests from various companies and industry associations for a simplified definition of a market rumor and further explanation about which media platforms, outlets, and social media posts require validation, according to a report from Zee Business.
About SEBI
SEBI was established in India in 1988 as a non-statutory body, but became a statutory body in 1992. Its primary function is to protect the interests of investors and to promote the development and regulation of the securities market. SEBI is responsible for overseeing the Indian securities market. Its goals are to protect investors, create a safe investment environment, and prevent market abuse.
Objectives Of Securities And Exchange Board of India
Indian capital market is overseen by the Securities and Exchange Board, otherwise known as SEBI, a regulatory organization. Its purpose is to prevent fraudulent and unfair trading practices while also protecting investors and encouraging securities market development.
Including brokers, investment bankers, and mutual fund companies, SEBI monitors and regulates market participants’ activities to accomplish its objectives. Disclosure necessities for listed companies and measures for investor protection are also ruled and regulated by it in the securities market.