SEBI (Delisting of Equity Shares) Regulations, 2015 – “Timelines for Counter Offer Process”

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..... es) Regulations, 2015 Timelines for Counter Offer Process 1. SEBI (Delisting of Equity Shares) Regulations, 2015 has been amended to allow promoter(s) / acquirer(s) to make Counter offer , in case price discovered through reverse book building is not acceptable to the promoter(s) / acquirer(s). 2. In order to implement the Counter offer process and to provide the framework, the Tim .....

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..... uity Shares) Regulations, 2015 - Timelines for Counter offer Sr. No. Activity Timelines 1. Public announcement (PA) of Counter offer by Promoter(s)/Acquirer(s) through stock exchange mechanism Within 2 working days from the date of closure of Reverse Book Building (RBB) bidding pr .....

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..... bidding process Counter offer bidding open for five working days 7. Public announcement of success/failure of Counter offer in the same newspaper in which public announcement under sub-regulation (1) of regulation 10 was made Not later than five working days of the closing of the counter offer bidding process .....

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