SEBI tightens unlisted firms' M& A rules
- 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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