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BW Businessworld

New Takeover Rules Likely By End-June

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The Securities and Exchange Board of India (Sebi) may finalise takeover rules by end-June, a senior finance ministry official said on Friday, adding the trigger point for making open offers may be raised to 25 percent from 15 percent currently.

The official, who did not want to named, also told reporters that SEBI was finalising new norms for private equity firms.

A panel set up by the regulator had last year proposed changes to takeover rules that are likely to offer better terms to minority shareholders, but could cut down the number of deals in the near term.

The takeover panel has suggested raising the trigger point for open offers to 25 per cent from 15 per cent. The panel has also recommended lifting the mandatory open offer size to 100 percent from 20 percent, making it easier for minority shareholders to participate in open offers arising from mergers and acquisitions.


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corporate business finance ministry sebi takeover rules