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        SEBI

        Regulation 26 - Upward revision of offer.

        Securities And Exchange Board of India(Substantial Acquisition of Shares And Takeovers) Regulations, 1997
        Chapter III
        SUBSTANTIAL ACQUISITION OF SHARES OR VOTING RIGHTS IN AND ACQUISITION OF CONROL OVER A LISTED COMPANY

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        Upward revision of offer permitted with public announcement, simultaneous regulator and exchange notice, and increased escrow. Regulation 26 allows the acquirer to make upward revisions to the offer's price and/or share quantity up to seven working days before closure, provided the acquirer: makes a public announcement in the same newspapers as the original announcement; simultaneously notifies the Board, all stock exchanges where the company is listed, and the target company; and increases the escrow account value as required by sub regulation (9) of regulation 28.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Upward revision of offer permitted with public announcement, simultaneous regulator and exchange notice, and increased escrow.

                                Regulation 26 allows the acquirer to make upward revisions to the offer's price and/or share quantity up to seven working days before closure, provided the acquirer: makes a public announcement in the same newspapers as the original announcement; simultaneously notifies the Board, all stock exchanges where the company is listed, and the target company; and increases the escrow account value as required by sub regulation (9) of regulation 28.


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