Alerts & Updates

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SEBI Amends Exemptions Provided To Small Companies For Delisting Of Shares

The Securities Exchange Board of India ("SEBI") amended the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 ("Delisting Regulations") by a notification dated January 12, 2016 ("SEBI Notification") to revise the applicability of exemptions provided to small companies in relation to obligations under Chapter IV, which deals with "exit opportunity" to be given to the public shareholders during delisting. Chapter IV of the Delisting Regulations deals with obligations relating to, inter alia, public announcements, opening of escrow account before making the public announcement, dispatching letter of offer to the public shareholders and price determination through book building process.

- SEBI Amends Exemptions Provided To Small Companies For Delisting Of Shares