Excel for
Securities and Exchange Board of India FAQ on De-listing
1. What is meant by delisting of securities?
2. What is the difference between Voluntary delisting and Compulsory delisting?
3. What is the exit opportunity available for investors in case a company gets delisted?
4. Does a company listed at BSE/NSE have to provide exit offer to shareholders in case it delists from stock exchanges other than BSE and NSE? 5. 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 atleast 25% of the public shareholders do not participate in the book building process? In this regard, it is clarified as under: a. If the acquirer or the Merchant Banker sends the letter of offer to all the shareholders by registered post or speed post through India Post and is able to provide a detailed account regarding the status of delivery of the letters of offer (whether delivered or not) sent through India Post, the same would be considered as a deemed compliance with the proviso to regulation 17(b) of the Delisting Regulations. b. If the Acquirer and Merchant Banker are unable to deliver the letter of offer to all the shareholders by modes other than speed post or registered post of India Post, efforts should be made by them to deliver the letter of offer by speed post or registered post of India Post. In that case, a detailed account regarding the status of delivery of letter of offer (whether delivered or not) provided from India Post would also be considered as deemed compliance with the proviso to regulation 17(b) of the Delisting Regulations.
|