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India: Sebi s new proposal may spark flurry of take private M&As

Photo by Livemint June 29, 2021 India may see a flurry of corporate acquisitions ending in delisting if a regulatory proposal to smoothen the process goes through, industry experts said. A Securities and Exchange Board of India (Sebi) discussion paper released on Friday proposed a seamless process to attempt delisting when one acquires a significant stake under the takeover code. This is expected to usher in so-called ‘take private’ mergers and acquisitions (M&As) by private equity funds and foreign companies. Currently, any acquirer wishing to delist a firm after takeover has to tackle a bewildering set of rules and procedures, many of which are contradictory. A sub-group of Sebi’s Primary Market Advisory Committee has now recommended sweeping changes, aligning these norms, the discussion paper said.

Stocks in the news: NTPC, Ruchi Soya, UPL, Nalco and NCL India

Adani Enterprises: The Adani Group aims for its airports to annually handle 80 million passengers once all the eight projects in its kitty are up and running. It aims to handle another 120 million non-passengers, including consumers at hotels and malls in the aerotropolis areas, the group’s flagship company said in its annual report. HDFC Life Insurance: UK’s Standard Life, one of the promoters of the life insurer, is looking to sell up to 70 million shares or a 3.46 per cent stake in the insurance company through a block deal on Tuesday to raise up to Rs 4,606 crore. Tata Motors: The homegrown automaker plans to have 10 new battery electric vehicles (BEVs) in its domestic product portfolio by 2025. Tata Motors owned Jaguar Land Rover (JLR) aims to be the world s most profitable luxury car manufacturer, according to Chief Executive Officer Thierry Bollore.

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