Home Acts & Rules SEBI Regulation Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021. Chapters List Chapter IV EXIT OPPORTUNITY This
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Regulation 17 - Bidding mechanism - Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021.Extract Bidding mechanism 17 . (1) The bidding period shall start not later than seven working days from the date of the detailed public announcement and shall remain open for five working days. (2) The acquirer shall facilitate tendering of shares by the shareholders and settlement of the same, through the stock exchange mechanism as specified by the Board. (3) The Manager to the offer shall ensure that the outcome of the reverse book building process is announced within two hours of the closure of the bidding period. (4) Within two working days from the closure of the bidding period, the acquirer shall, through the Manager to the offer, make a public announcement in the same newspapers in which the detailed public announcement under sub-regulation (1) of regulation 15 of these regulations was made, disclosing the success or failure of the reverse book building process, along with the discovered price accepted by the acquirer in the event of success of the said process.
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