Markets regulator Sebi Wednesday exempted state-owned Coal India from complying with regulations with regard to its proposed buyback programme for 4.46 crore shares.
Coal India had filed an application on February 12 with the Securities and Exchange Board of India (Sebi) seeking exemption from the strict enforcement of the buyback norms.
The application has been necessitated on account of transfer of 4,46,80,850 equity shares of Coal India which were held by the promoter (government), to the asset management company of the Bharat 22 ETF in the month of February, according to a Sebi order.
