<h1>Open offer obligation under SEBI SAST requires a public offer after qualifying acquisitions, potentially creating majority control.</h1> The Competition Commission of India approved Ambuja Cements' acquisition of 46.80% of Orient Cement and noted the acquisition triggers a mandatory open offer under SEBI's SAST regulations for up to 26% of the expanded share capital, which, if accepted, would increase the acquirer's stake to 72.8%. CCI also cleared Adani Infra's purchase of promoter shares in PSP Projects, structured so that post-closing and the required open offer the acquirer and existing promoters would hold equal stakes, with the open offer making the acquirer the single largest shareholder.