Wednesday, February 15, 2017

SEBI tightens unlisted firms' M& A rules

New conditions for unlisted- listed mergers:-
  • A merged entity should have at least 25% public shareholding
  • Must be listed on NSE,BSE, or an exchange with nationwide terminals
  • SEBI pricing formula will apply
  • Compulsory e-voting if a substantial part of listed firms gets transferred into unlisted
  • Compulsory e-voting if shares of unlisted firms are being acquired by promoters

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