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        SEBI

        Regulation 20A - Fixed Delisting Price

        Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021.
        Chapter IV
        EXIT OPPORTUNITY

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        Fixed delisting price requires premium over floor price and frequent trading eligibility; acquirer must accept offer if high post offer shareholding. Regulation 20A requires an acquirer using the fixed price delisting process to provide a fixed delisting price at a specified premium above the floor price, permits fixed price delisting only for companies whose shares are frequently traded, and binds the acquirer to accept tendered shares if the acquirer's post offer shareholding together with shares tendered by public shareholders reaches a high post offer threshold at that fixed price.
                          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.

                                Fixed delisting price requires premium over floor price and frequent trading eligibility; acquirer must accept offer if high post offer shareholding.

                                Regulation 20A requires an acquirer using the fixed price delisting process to provide a fixed delisting price at a specified premium above the floor price, permits fixed price delisting only for companies whose shares are frequently traded, and binds the acquirer to accept tendered shares if the acquirer's post offer shareholding together with shares tendered by public shareholders reaches a high post offer threshold at that fixed price.


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