The Securities and Exchange Board of India (“SEBI”) has issued a Circular introducing an online system for filing reports related to exempted acquisitions under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“Regulations”). Previously, these reports were submitted via email to SEBI but now SEBI has enabled the online filing of reports through the SEBI Intermediary Portal (SI Portal) at https://siportal.sebi.gov.in.

The key changes are as follows:

1. Filing of reports for acquisitions pursuant to inter-se transfer of shares among immediate relatives and promoters who have been disclosed as such for at least three years will now be facilitated through the SI Portal.
2. The online and email submission modes will run parallelly until 14^th May 2025.
3. From 15^th May 2025, submission via SI Portal will be the only permitted mode for these reports.
4. Payment of the non-refundable fee as prescribed for such reports will now be processed through the SI Portal, replacing the earlier payment link on SEBI’s website.
5. For convertible securities, the date of acquisition shall be considered as the date of conversion of such securities.

The Circular is linked below, for your ease of reference.

Source: Securities and Exchange Board of India (SEBI)

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