Securities and Exchange Board of India (“SEBI”) has issued a Discussion Paper on the Securities and Exchange Board of India (Substantial Acquisition of shares and takeovers) Regulations 2011 inviting comments and suggestions from the public on the following issues:
- Completion of acquisition through bulk and block deals during the open offer period;
- Depositing 100% escrow in case of open offers made pursuant to indirect acquisitions;
iii. Payment of interest in case of delay in open offers.