Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2002. - S.O. No.127(E) - SEBI/LE/1700/2002 - SEBI
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Minimum offer price: disinvestment competitive bid price governs offers for infrequently traded public sector shares. The amendment excludes the exemption for acquisitions by a Government company when such acquisition of a listed Public Sector Undertaking occurs through the Central Government's competitive bidding for disinvestment. It substitutes language in Regulation 20 to state that the authority 'opens the financial bid,' inserts sub-regulation (3A) providing that for disinvested PSUs with infrequently traded shares the minimum offer price shall be the price paid by the successful bidder to the Central Government via competitive bidding, and adds 'or cum-dividend' after 'cum-bonus' in the pricing explanation.
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.
Minimum offer price: disinvestment competitive bid price governs offers for infrequently traded public sector shares.
The amendment excludes the exemption for acquisitions by a Government company when such acquisition of a listed Public Sector Undertaking occurs through the Central Government's competitive bidding for disinvestment. It substitutes language in Regulation 20 to state that the authority "opens the financial bid," inserts sub-regulation (3A) providing that for disinvested PSUs with infrequently traded shares the minimum offer price shall be the price paid by the successful bidder to the Central Government via competitive bidding, and adds "or cum-dividend" after "cum-bonus" in the pricing explanation.
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