Jaro Institute requests SEBI interpretive guidance on whether its promoter can buy back shares from the secondary market within six months of selling them in the company's IPO.
The query centers on the applicability of contra-trading restrictions under SEBI's Prohibition of Insider Trading Regulations, 2015.
An attached legal opinion argues the initial OFS disposal was a corporate action, potentially exempting a subsequent open market purchase from contra-trade rules.
The company paid a fee of ₹59,000 and requested 90-day confidentiality for SEBI's response.