Mumbai, (Asian independent) In a bid to provide further relief to market participants amid the coronavirus crisis, securities market regulator SEBI has reduced broker turnover fees and filing fees on offer documents for public issue, rights issue and buyback of shares by 50 per cent.
“In its continuing efforts to help market participants to tide over challenges due to COVID 19, the Securities and Exchange Board of India (SEBI) has decided to reduce broker turnover fees and filing fees on offer documents for Public issue, Rights issue and Buyback of shares,” said a statement by the regulator.
The broker turnover fee will be reduced to 50 per cent of the existing fee structure for the period of June 2020 to March 2021, it said, adding that the benefit of the reduction in fees will automatically be passed on to the investors as well.
Further, the 50 per cent cut in the filing fees on offer documents for public issue, rghts issue and buyback of shares will be effective for documents filed from June 1, 2020 to December 31, 2020.
The market regulator has announced a slew of regulatory easing measures in the past couple of months for market participants and companies amid the coronavirus crisis.