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of <h1>SEBI Amends Takeover Regulations 2011: New Exemptions for PSU Disinvestment, Bank Guarantee Provisions Effective Nov 9, 2022.</h1> The Securities and Exchange Board of India (SEBI) issued amendments to the Substantial Acquisition of Shares and Takeovers Regulations, 2011, effective from November 9, 2022. Key changes include exemptions for pricing in the disinvestment of public sector undertakings by the Central or State Government when there is a change in control. Additionally, provisions were added for using an unconditional and irrevocable bank guarantee issued by a scheduled commercial bank with an 'AAA' rating for open offers, subject to Reserve Bank of India approval. These amendments aim to streamline the regulatory framework governing substantial acquisitions and takeovers.
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