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ELP Update
In a move to make the process of open offers and buy-back offers more efficient and investor-friendly, Securities and Exchange Board of India has released a consultation paper proposing changes to the timelines related to various activities involved in open offers under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and buy-back offers under the SEBI (Buyback of Securities) Regulations, 2018.
The proposed changes are expected to reduce the overall time taken for completion of open offer from 62 working days to 42 working days. It will also reduce the overall time for completion of buyback from 43 working days to 36 working days.
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