Currently, the price discovery for shares happens through a call auction process.
The regulator said the call auction session would continue to be conducted separately on individual
exchanges and orders would be matched by respective exchanges after computation of the equilibrium price.
If the difference in the equilibrium price between exchanges in percentage terms is more than the applicable price band for the stock, a “common equilibrium price” would be computed by exchanges, SEBI said.
The common equilibrium price shall be volume weighted average of equilibrium prices on individual exchanges as determined by the call auction.
More to come….