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of <h1>SEBI Amends Takeover Regulations: New Rules for PSU Acquisitions, Director Appointments, and Share Transfers in Regulations 22, 23, 25.</h1> The Securities and Exchange Board of India (SEBI) issued an amendment to the Substantial Acquisition of Shares and Takeovers Regulations, 1997, effective from its publication date. The amendment involves changes to Regulations 22, 23, and 25, primarily concerning acquisitions involving Public Sector Undertakings (PSUs). It specifies conditions under which certain restrictions on director appointments and share transfers do not apply, particularly when the Central Government sells shares. The amendment also restricts competitive bids following a public announcement by an acquirer who has entered into a Share Purchase or Shareholders' Agreement with the Central Government for PSU acquisitions.
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