New Delhi: From October 1, Sebi has notified guidelines requiring the top 100 listed companies by market capitalization to confirm, reject, or clarify any market rumour reported in the mainstream media in order to streamline the disclosure requirements.
The Securities and Exchange Board of India (Sebi) has announced that the rule would go into effect on April 1, 2024 for the largest 250 listed entities.
Companies will have 24 hours from the time of publication to "confirm, deny, or clarify any reported event or information in the mainstream media that is not general in nature and which indicates rumours of an impending specific material event"—Inputs from Agencies
