Section 165 in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
165. Pricing of infrequently traded shares.
- Where the shares of an issuer are not frequently traded, the price determined by the issuer shall take into account the valuation parameters including book value, comparable trading multiples, and such other parameters as are customary for valuation of shares of such companies:Provided that the issuer shall submit a certificate stating that the issuer is in compliance of this regulation, obtained from an independent valuer to the stock exchange where the equity shares of the issuer are listed.
