Friday, March 15, 2013

OPEN OFFER WILL BE TRIGGERED IF BUYING TOPS 5% IN A FISCAL

Stock market regulator Securities and Exchange Board of India (SEBI) has said that the 5% for creeping acquisition of shares by promoters would be calculated on the basis of the shares that exist at the end of the previous fiscal. Any acquisition above five per cent in a financial year by promoter group attracts open offer obligation.

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