Shareholder participation in delisting: entitlement to fixed price or reverse book building; depository receipt holders excluded unless converted.

Public shareholders of a company proposed for delisting are entitled to participate in the fixed price process or the reverse book building process as specified in Schedule II; the Manager to the issue must ensure compliance. Holders of depository receipts and custodians are not entitled to participate unless the depository receipts are converted into equity shares, after which participation is permitted under the prescribed process.

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