(1) The provisions of this Chapter shall apply to an exit offer made by the promoters or
shareholders in control of an issuer to the dissenting shareholders in terms of section 13(8) and section 27(2) of the Companies Act, 2013, in case of change in objects or variation in the terms of contract referred to in the prospectus.
(2) The provisions of this Chapter shall not apply where there are neither identifiable promoters nor shareholders in control of the listed issuer.
SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2016, w.e.f. 17.02.2016