Overview of sebi takeover regulations, 2011 - TakeoverCode.com

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SEBITakeoverRegulations, 201111/09/2012
Need of SEBI Takeover RegulationsAnnouncement of Policy of Globalisation• Opportunity for Overseas InvestorsChange in India Capital Market Scenario• Need for some regulations to protect the interest ofInvestors1994• Enactment of SEBI (SAST) Regulations, 19941997• Enactment of SEBI (SAST) Regulations, 19972011• Enactment of SEBI (SAST) Regulations, 201111/09/2012
Page 1: Overview ofSEBI TakeoverRegulations
Page 5 and 6: 11/09/2012BASIC CONCEPT
Page 7 and 8: 11/09/2012Shares
Page 9 and 10: ACQUIRERDirectlyAcquiresWhoOrOrIndi
Page 11 and 12: ACQUIRERDirectlyAcquiresWhoOrOrIndi
Page 13 and 14: UNANSWERED ISSUEMeaning of Term Neg
Page 15 and 16: FREQUENTLY TRADED SHARESTradingTurn
Page 17 and 18: IMPORTANT EVENTSOffer PeriodIdentif
Page 19 and 20: ENTERPRISE VALUE*meansvalue calcula
Page 21 and 22: ENTERPRISE VALUEPaid up capital (No
Page 23 and 24: VOLUME WEIGHTED AVERAGE PRICE“Vol
Page 25 and 26: TRIGGERED POINTSFOROPEN OFFER11/09/
Page 27 and 28: INITIAL THRESHOLD & CREEPINGACQUISI
Page 29 and 30: INDIRECT ACQUISITIONAcquisition of
Page 31 and 32: VOLUNTARY OPEN OFFER• Prior holdi
Page 33 and 34: MINIMUM OFFER SIZEMandatoryOffer -2
Page 35 and 36: OFFER PRICENew RegulationsOld Regul
Page 37 and 38: ESCROW ACCOUNTOpening of Escrow Acc
Page 39 and 40: ACQUISITION AFTER THE TENDERINGPERI
Page 41 and 42: RECOMMENDATION ON THE OFFER BYBOARD
Page 43 and 44: COMPETING OFFEROpen Offer by any ot
Page 45 and 46: NO APPOINTMENT OF ACQUIRER ON THEBO
Page 47 and 48: EXEMPTION FROM OPEN OFFERExemptions
Page 49 and 50: AUTOMATIC EXEMPTIONS FROM OPENOFFER
Page 51 and 52: DISCLOSURES LIMITSEvent Based Discl
Page 53 and 54:
ISSUES UNADDRESSED• Negative Cont
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