07 July 2012
Hi, Can anyone help me to make it clear that what is the difference between Regulation 18 (6) and Regulation 29 (2) of the Sebi, so what kind of disclosers are made in respect of it and to whom , Please let me have the exact details in respect of this.
Acquirer (includes pledgee of shares other than Schedule Commercial Banks/PFIs) with PAC holding 5% and more shares shall on acquisition/disposal of 2% or more shares or voting rights shall disclose to Target Company & Stock Exchange within 2 working days of Such sale/purchase.
Regulation 18(6)-
The acquirer shall disclose during the open offer period every acquisition made by the acquirer or PAC with him of any shares of the target company to the stock exchanges and to the target company at its registered office within twenty-four hours of such acquisition, and the stock exchanges shall forthwith disseminate such information to the public
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