SEBI (Delisting of Equity Shares) Regulations, 2015 – “Timelines for Counter Offer Process”

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....elines for Counter Offer Process" 1. SEBI (Delisting of Equity Shares) Regulations, 2015 has been amended to allow promoter(s) / acquirer(s) to make "Counter offer", in case price discovered through reverse book building is not acceptable to the promoter(s) / acquirer(s). 2. In order to implement the "Counter offer" process and to provide the framework, the "Timelines for Counter Offer Process" ....

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....ivity Timelines 1. Public announcement (PA) of Counter offer by Promoter(s)/Acquirer(s) through stock exchange mechanism Within 2 working days from the date of closure of Reverse Book Building (RBB) bidding process 2. Publication of Counter offer PA in the same newspapers where original RBB PA was made Within four working days from the closure of the RBB bidding process 3. Option to withd....