CFD/DCR/TO/Cir-01/2009/06/08 dated 6th August 2009
- Acquisition in excess of 5% in a financial year by persons holding between 15% and 55%
- UPTO 5% in a financial year could be acquired without an open offer (called creeping acquisition). Thus, this limit gets renewed every financial year.
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- Acquisition in excess of 5% by persons holding between 55% and 75%,
- UPTO 5% could be acquired (without open offer) only through open market purchase or buy back by company and not through any other mode. But this is a ONE-time limit till one reaches 5% when holding is between the prescribed limits.
- Kindly note that, this 75% shall NOT be extended to 90%, irrespective of minimum public shareholding is 25% or 10%
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