Acquistion of 26% stake in a listed Company
This query is : Resolved
10 May 2011
Dear,
1. Can an Indian Company acquire 26% stake in a listed company through a private equity mode?
2. Will the stake acquired be termed a public shareholding?
Please provide with other regulatory requirements.
1. Can an Indian Company acquire 26% stake in a listed company through a private equity mode?
2. Will the stake acquired be termed a public shareholding?
Please provide with other regulatory requirements.
11 May 2011
1) Yes. The provisions for public announcement will be trigerred if the holding (directly or indirectly) reaches 15%
2) Yes. It may be termed as public holding if it does not fall within the definitions of promoter and promoter group.
2) Yes. It may be termed as public holding if it does not fall within the definitions of promoter and promoter group.
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