India’s markets regulator on Wednesday increased the minimum block deal size to 250 million rupees ($2.82 million) from 100 million rupees as part of its proposed changes to the country’s framework for such transactions.
A block deal is used to execute large trades through a single transaction without putting either the buyer or seller in a disadvantageous position. For such trades, stock exchanges are permitted to provide a separate trading window.
The Securities and Exchange Board of India proposed changes to the country’s block deal framework earlier this year.
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SEBI said on Wednesday the block deal orders can now be either up to 3% above or below the price of the share and will be conducted through two windows – a morning session and an afternoon session.
The changes are effective 60 days after the issuance of the circular, the regulator said.
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