SC extended public offer deadline to 12.02.2025, contingent on ...

SEBI Public Offer Extended: 600 Crore Deposit Required Under Regulation 20(1) for Continuation Until SEBI's Final Decision

March 5, 2025

Case Laws SEBI SC

SC extended public offer deadline to 12.02.2025, contingent on appellant depositing 600 crores per SEBI Regulations by specified date. Key dispute centered on determining public announcement date under Regulation 20(1) - whether 18.01.2025 or 03.10.2023. Court mandated that if deposit requirement is met, offer will continue until third day after SEBI's ruling on pending application. Original respondents had previously deposited 330 crores in escrow. Court preserved rights of aggrieved parties to seek appropriate remedies following SEBI's determination on announcement date, exemption eligibility, and offer price issues. Order specified as interim in nature.

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SC extended public offer deadline to 12.02.2025, contingent on ...

SEBI Public Offer Extended: 600 Crore Deposit Required Under Regulation 20(1) for Continuation Until SEBI's Final Decision

March 5, 2025

Case Laws SEBI SC

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