Mumbai, March 26 (TIWN) Securities market regulator SEBI of Friday proposed to reduce the time period taken for share 'buy backs' and 'open offers', on the back of technological advancements made in the tendering and settlement of shares.

"Considering the technological advancements in digital and fintech and changes made in the manner of tendering and settlement of shares, a need was felt to review the overall timelines for procedural activities, including the duration of the tendering period, involved in the open offers and buy-back tender offers...  "... so as to conclude the same in a more efficient and time bound manner and also to synchronise the timelines of similar activities across all the tender offers, 'i.e. Open Offers, Buybacks and Delisting Offers', to the extent possible," it said in a Consultation Paper.