Overview of sebi takeover regulations, 2011 - TakeoverCode.com

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OPEN OFFER REQUIREMENTReg. 3 (1)• Open Offer on crossinginitial threshold, i.e. 25%.TEXT TEXT TEXTReg. 3 (2)• Open offer for crossingcreeping acquisition limit, i.e.5%TEXT TEXT TEXT TEXTReg. 4• Change in Control11/09/2012
AUTOMATIC EXEMPTIONS FROM OPENOFFERReg 3 & 4Reg 3Reg 3 (1)Reg 3(2)Inter-se-transferTEXT TEXT TEXTCDR SchemeBuy Back underRegulation 3(1)Right IssueAcquisition in theordinary course ofbusinessDisinvestmentagreementTEXT TEXT TEXT TEXTBuy BackAcquisition in exchangeof sharesBIFR and MergerSchemesSARFAESI , DelistingTransmission,succession orinheritanceAcquisition from statelevelfinancialinstitutionsAcquisition from aventure capital fund ora foreign venturecapital investorSection 87(2) ofCompanies Act, 195611/09/2012
Page 1 and 2: Overview ofSEBI TakeoverRegulations
Page 3 and 4: Need of SEBI Takeover RegulationsAn
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: EXEMPTION FROM OPEN OFFERExemptions
Page 51 and 52: DISCLOSURES LIMITSEvent Based Discl
Page 53 and 54: ISSUES UNADDRESSED• Negative Cont

Overview of sebi takeover regulations, 2011 - TakeoverCode.com

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