SEBI Chief CB Bhave said that the price band for an IPO can be declared 2 working days before the open date. Listed companies must declare dividend on per share basis. The timeline for bonus issues will be reduced. SEBI is seeking transparent pricing mechanism.
He further said that SEBI recognises the special situation of Satyam. SEBI will amend guidelines to arrive at transparent process where the 6 month price does not hold any longer. There is a need to have provision in our regulation to deal with such issue in a general manner. However, there is no timeframe yet. Satyam Board has expressed that prices before January 7 should no longer hold valid.
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