The Securities and Exchange Board of India (Sebi) is deliberating on ways to grant promoters a say in the price offered to shareholders of companies headed for delisting. Until now, shareholders have more heft in deciding the price at which shares should be tendered.
But, promoters may now be given an option to provide a counter offer, and quote a price that may be lower than the price discovered during the delisting process, said sources in the know. This is one of the two proposals discussed by the Sebi-appointed Primary Market Advisory Committee a few days ago. A delisting ...
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