SEBI speeds up open offers: What it means for investors
SEBI (Securities and Exchange Board of India) is looking to make open offers way faster, trimming the process from 62 down to just 42 working days.
This move, recommended by the Takeover Review Panel, is all about quicker payouts for shareholders and making corporate takeovers less of a slog.
Key changes in the process
If these proposals go through, companies will have to publish their Detailed Public Statement within three days (instead of five), and file the Draft Letter of Offer in five days (down from 10).
The Letter of Offer would reach shareholders sooner too—five days instead of seven. Plus, shareholders would only need to wait five days to tender their shares, not 10.
Payments and announcements will also be faster
SEBI also wants payments made within five working days after the offer closes (instead of 10), thanks to electronic settlements like T+1.
Post-offer announcements would come out in two working days instead of five.
All these changes are still up for public feedback before they become official—but if you're into markets or investing, this could mean less waiting around and more action.