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<h1>SEBI Amends Takeover Regulations: Merchant Bankers Can Subscribe to Unsubscribed Issues, Except in Control Change Cases.</h1> The Securities and Exchange Board of India (SEBI) issued an amendment to the Substantial Acquisition of Shares and Takeovers Regulations, 1997, effective from April 13, 2010. This amendment introduces a new sub-clause under regulation 3, allowing a merchant banker or nominated investor involved in market making to subscribe to unsubscribed portions of an issue. However, this exception is not applicable if such acquisition leads to a change in control of the target company. This amendment is part of a series of modifications to the original regulations, which have been periodically updated since their inception in 1997.