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<h1>Amendments to SEBI Delisting Regulations: New Rules on Floor Price, Disclosures, and Acquirer Pricing Flexibility Under Regulation 20.</h1> Regulation 20 of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021, outlines the process for determining the discovered price for delisting through a reverse book building process. The acquirer can provide an indicative price higher than the floor price and may revise it upwards before bidding begins, which must be disclosed to shareholders. The acquirer also has the discretion to pay more than the discovered price. Recent amendments have altered the specifics of how the floor price and disclosures are made, as noted in the accompanying notifications.