On 9 November 2022, IND SEBI amended regulation re public disinvestment.
- IND SEBI published the SEBI ((substantial shareholdings and takeovers) (amendment) regulations, 2022, effective upon publication in the official gazette.
- They amend SEBI (substantial shareholdings and takeovers) regulations, 2011.
- Follows IND SEBI December 2021 third amendments to takeover regulations.
Amendments
- Inserted provisos that price determined shall not apply in the case of disinvestment of a public sector undertaking by the central government or a state government.
- Added in regulation 22 unconditional and irrevocable bank guarantee issued in favor of the manager to open offer by any scheduled commercial bank as alternative to cash.
