Exemption order under regulation 11 of SEBI (SAST) Regulations, 2011 in the matter of Astec Life Sciences Ltd

Last updated: 19 October 2020
Quick Summary
The Securities and Exchange Board of India (SEBI) has issued an order concerning the proposed acquisition of shares in Astec Life Sciences Ltd by the Cellular Family Trust. The Trust applied for an exemption from certain provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, specifically Regulation 3(2). This order details SEBI's decision on that exemption request.

Court :
SEBI

Brief :
Astec Life Sciences Ltd.(“Target Company”) is a company incorporated on January 25, 1994 and has its registered office at Mumbai. The equity shares of the Target Company are listed on the BSE Limited (“BSE”)and National Stock Exchange of India (“NSE”)

Citation :
WTM/GM/CFD/DCR1/39/2020-21

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