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.
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