target company

Request for Informal Guidance under Securities and Exchange Board of India (Informal Guidance) Scheme, 2003 {The Scheme} in the matter of M/s. Ramkrishna Forgings Limited (Target Company) Letter No. CFD/DCR/SKM/TO/18378/2010, dated 2-9-2010 This has reference to your letter dated April 6, 2010 requesting for interpretive letter under Securities and Exchange Board of India (Informal Guidance) [...] Full Article

SEBI had constituted a Committee called the “Takeover Regulations Advisory Committee (TRAC)” which has recommended amendments to the procedure for corporate acquisitions. The mandate of the committee was to examine and review SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and to suggest suitable amendments therein. Full Article

Takeovers are set to get costlier with a Sebi panel favouring making it mandatory for the acquirer to make an offer for up to 100 per cent stake in any listed company.As of now, an open offer for a minimum of 20 per cent in the target company is required to be made by any entity that has purchased 15 per cent equity, either from the promoters or from the open market. Full Article

The single-most important regulation in India, governing the acquisition of shares or control in an Indian listed company is the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, or the Takeover Code. In the backdrop of changing needs of a dynamic Indian economy surging at a growth pace of more than 7 per cent over the last few years, this code has been tested during many a corporate takeover battle in India, observes Girish Vanvari, Executive Dire.. Full Article

Leveraged Buyout (LBO) has been in the news recently which said that,  Corus –    an Anglo-Dutch company would be taken over by TATA – an Indian company. Being a relatively new business concept for us, this Article aims to highlight what ‘LBO’ is all about, its advantages and disadvantages. It cannot be ruled out [...] Full Article

What is meant by Hostile Takeover? Hostile Takeover is a type of acquisition in which, the company being purchased (Target Company) does not want to be purchased at all, or does not want to be purchased by a particular buyer (Acquirer) that is making a bid. In other words, the Acquirer intends to gain control [...] Full Article

In a blow to the Securities and Exchange Board of India (Sebi), the Securities Appellate Tribunal (SAT) has set aside the former’s ruling in the case of Tata Tea, wherein Sebi had asked the company to pay non-compete fees to all shareholders of Mount Everest Mineral Water.Tata Tea had acquired Mount Everest in 2007, buying [...] Full Article

CFD/DCR/TO/Cir-01/2009/06/08 August 6, 2009 To All Registered Merchant Bankers / Stock Exchanges Dear Sirs, Sub: Interpretative circular under regulation 5 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 1997 – Applicability of provisions of regulation 11 (2) thereof, as amended on October 30, 2008 1. SEBI (Substantial Acquisition [...] Full Article