alleryStart learning →Under Regulation 3(1) of the SEBI Takeover Regulations, an open offer is due at what voting level?
A10 per cent or more
B15 per cent or more
C20 per cent or more
D25 per cent or more
Answer & Solution
Correct answer: D. 25 per cent or more
Regulation 3(1) bars an acquirer and persons acting in concert from reaching 25 per cent voting rights without a public announcement of an open offer.
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