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of <h1>SEBI Amends Takeover Regulations: New Rule 10(2B) Exempts Certain Share Acquisitions from Open Offer Obligations.</h1> The Securities and Exchange Board of India (SEBI) issued the Second Amendment to the Substantial Acquisition of Shares and Takeovers Regulations, 2020, effective upon publication in the Official Gazette. This amendment introduces a new sub-regulation, 10(2B), which exempts acquisitions of shares, voting rights, or control of a target company via preferential issue from the obligation to make an open offer, provided compliance with regulation 164A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. This exemption also applies to target companies with infrequently traded shares, with pricing determined by regulation 165.
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