Securities and Exchange Board of India (Delisting of Equity Shares) (Amendment) Regulations, 2025

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....rd hereby makes the following regulations to further amend the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021, namely: - 1. These regulations may be called the Securities and Exchange Board of India (Delisting of Equity Shares) (Amendment) Regulations, 2025. 2. They shall come into force on the date of their publication in the Official Gazette: Provided that the provisions of these regulations shall be applicable to the delisting offers where initial public announcement for the delisting has not been made. 3. In the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021, in Chapter VI, after Part E, the following Part shall be inserted, namely,- ....

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....ference date; (ii) the highest price paid or payable for any acquisition by the acquirer along with persons acting in concert during the 26 weeks immediately preceding the reference date; (iii) the price determined under a joint valuation report obtained from two independent registered valuers, taking into account valuation parameters such as book value, adjusted book value, comparable trading multiples, income approach and any other customary valuation metrics as applicable for valuation of shares of companies in the same industry; and (e) the delisting price shall be at least fifteen percent higher than the price determined under sub-clause (d). (3) Where a public sector undertaking whose shares have be....