Streamlining the Process for Acquisition of Shares pursuant to Tender-Offers made for Takeovers, Buy Back and Delisting of Securities.

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..... rchant Bankers All Registrars to the Issue Dear Sir/Madam, Sub: Streamlining the Process for Acquisition of Shares pursuant to Tender-Offers made for Takeovers, Buy Back and Delisting of Securities. 1. SEBI had issued circular No. CIR/CFD/POLICY CELL/1/2015 dated April 13, 2015 on Mechanism for acquisition of shares through stock exchange mechanism pursua .....

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..... will be allowed to utilize the securities towards the settlement obligations under such offers. Further, consideration for the accepted shares in the tender offer and shares tendered but not accepted under such offer would be credited directly to shareholders' bank and demat accounts respectively. 4. The aforesaid measures will reduce the systematic risk for investors and ease the pro .....

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..... (6A) of Takeover Regulations as amended. 9. This Circular along with the Annexure is available on the SEBI website at www.sebi.gov.in under the category Legal framework . Yours faithfully, Amit Tandon Deputy General Manager +91-22-26449373 [email protected] ANNEXURE Amendments to Procedure for tende .....

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..... l order. This information shall include investor PAN, beneficiary account details and bank details including IFSC code. ib. The cumulative quantity tendered shall be made available online to the market throughout the trading session at specific intervals by Stock Exchange providing acquisition window during the tendering period on the basis of shares transferred to CC using early pay-i .....

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..... ed by RBI/bank, due to any issue then such funds will be transferred to the seller broker s settlement account for onward transfer to shareholder. 2.2 Clause (n) shall be deleted. 2.3 Clause (o) shall be substituted with the following: o. The seller broker would then issue contract note for the shares accepted in the offer. 2.4 Sub-clause (iv) of claus .....

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