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of <h1>SEBI Clarifies Regulation 11(2): Acquirers Can Increase Stake by 5% Without Public Announcement, Subject to Conditions.</h1> The circular clarifies the applicability of amendments to regulation 11(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. It states that an acquirer, along with persons acting in concert, holding 55% or more but less than 75% of shares or voting rights in a target company, can acquire up to an additional 5% without making a public announcement, provided certain conditions are met. This acquisition can occur in multiple tranches without a specific timeframe, but the total shareholding must not exceed 75%. The circular aims to resolve interpretation issues regarding this provision.
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