Reverse book building defines discovered price enabling acquirer to meet delisting shareholding threshold through eligible shareholder bids. The Reverse Book Building process requires an electronic facility arranged by the acquirer with a stock exchange, immediate filing and posting of the public announcement and letter of offer, specified minimum bidding centres and electronic terminals, appointment of trading members, and rules allowing only upward bid revision until one day before close. Dematerialised bids use a lien to a special depository account; physical certificates are verified by the share transfer agent and non genuine certificates are deleted. The Manager must prevent transfer to the acquirer unless bids are accepted and paid. The discovered price is the price at which accepted eligible bids bring the acquirer to the delisting shareholding threshold, excluding certain categories of shares.