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    Book Building Process

    Posted By : Sohil / Published on : 24-Mar-2023 04:35 AM / View : 371 / Comment : 1

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    Dear All,

    What would constitute demonstration of delivering the letter of offer to all
    the public shareholders in terms of the proviso to regulation 17(b) of
    Delisting Regulations in cases where at least 25% of the public shareholders do not participate in the book building process?
    Read more on : process building book

    • As per the proviso to regulation 17(b) of the Delisting Regulations, in cases where at least 25% of the public shareholders do not participate in the book building process, the acquirer has to demonstrate that it has delivered the letter of offer to all the public shareholders by taking adequate steps.

      In order to demonstrate the delivery of the letter of offer to all the public shareholders, the acquirer may adopt various modes of communication, such as registered post, speed post, courier, email, public announcement in newspapers, etc. The acquirer may also maintain a record of the communication made with the public shareholders and preserve the same for future reference.

      It is important to note that the acquirer has the onus of demonstrating that it has delivered the letter of offer to all the public shareholders and has taken adequate steps to ensure the same. If the acquirer fails to do so, it may result in non-compliance with the Delisting Regulations and may attract penal provisions.

      31-03-2023 / 11:50:16 AM
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