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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Reiteration of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2024

25-May-2024 | BSE Notice No. 20240525-2

BSE has reiterated Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2024 further amend the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 effective from 17th May,2024. By virtue of amendment, (1) Regulation 8(17) is inserted stating (Offer Price)- The effect on the price of the equity shares of the target company due to material price movement and confirmation of reported event or information may be excluded as per the framework specified under sub-regulation (11) of regulation 30 of the listing regulations for determination of the offer price under this regulation. (2) Regulation 9(6) is inserted stating (Mode of payment) - The effect on the price of the listed equity shares, which are offered as consideration, due to material price movement and confirmation of reported event or information may be excluded as per the framework specified under sub-regulation (11) of regulation 30 of the listing regulations for determination of the price of such equity shares under this regulation. For detailed information, please refer to the attached document.

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