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

Tendering of shares in open offers, buybacks and delisting offers by marking lien in the demat account of the shareholders

13-Aug-2021 | SEBI/HO/CFD/DCR-III/CIR/P/2021/615

SEBI has made amendments in the procedure for tendering and settlement of shares through the Stock Exchange. According to this, the lien is to be marked against the shares of the shareholders participating in the tender offers and upon finalization of the entitlement, only the accepted quantity of shares shall be debited from the Demat account of the shareholders. The lien marked against unaccepted shares shall be released. The detailed procedure for tendering and settlement of shares under the revised mechanism is specified in the Annexure.

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