Completion of acquisition

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....a purchase of shares attracting the obligation to make an open offer for acquiring shares, until the expiry of the offer period: ^5[Provided that in case of an offer made under sub-regulation (1) of regulation 20 of these regulations, pursuant to a preferential allotment, the offer shall be completed within the period as provided under sub-regulation (1) of regulation 170 of the Securities and ....

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.... providing unconditional and irrevocable bank guarantee issued in favour of the manager to the open offer by any scheduled commercial bank, subject to the approval of the Reserve Bank of India,] of an amount equal to ^2[the entire] consideration payable under the open offer assuming full acceptance of the open offer, the parties to such agreement may after the expiry of twenty-one working days fro....

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....ed in sub-regulation (1), an acquirer may acquire shares of the target company through preferential issue or through the stock exchange settlement process, ^4[****] subject to ,- (i) such shares being kept in an escrow account, (ii) the acquirer not exercising any voting rights over such shares kept in the escrow account: Provided that such shares may be transferred to the acc....

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....f. 24-03-2015. 2 Substituted by the SEBI (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2018, w.e.f. 11-09-2018. Prior to this, it read as "one hundred per cent of the". 3 Inserted by the SEBI(Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2013, w.e.f. 26-03-2013. 4. Omitted vide Notification No. SEBI/LAD-NRO/GN/2020/2....