SEBI Vide its Notification dated 22nd June 2020 has further amended the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Sub-Regulation 2(B) has been inserted after sub-regulation 2(A) of Regulation 10
Any acquisition made by an investor in a target company by way of the preferential issue in compliance with the provisions of Regulation 164A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 shall be exempt from the obligation of the open offer under Regulation 3 & 4 of SEBI (SAST) Regulations,2011.
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