The Securities and Exchange Board of India (Sebi) is in talks with the department of company affairs for seeking power to regulate stock splits below a certain value.Damodaran said as part of this, Sebi would encourage companies to declare dividends in absolute terms (in rupees) and not percentage terms, which often led to misinterpretations.
Addressing investors at an event organised by the Tamil Nadu Investors’ Association yesterday, Damodaran said Sebi would set up an expert committee to be headed by a retired judge of the Supreme Court to look into the reallocation of shares under the recent multiple application IPO scam.
The committee will devise an optimum method to identify investors who have either lost out on buying of particular shares or those who have been allotted lesser percentage of shares than they ought to have been.
Read more in The Business Standard article.
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