valid as on 29/02/2024

Regulation 12. Manager to the open offer
Effective date 23.10.2011

Manager to the open offer.

12. (1) Prior to making a public announcement, the acquirer shall appoint a merchant banker registered with the Board, who is not an associate of the acquirer, as the

Explanation.— For the purposes of this regulation the term “associate” has the same meaning as in the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992.

2. The public announcement of the open offer for acquiring shares required under these regulations shall be made by the acquirer through such manager to the open offer.

Refer SEBI Circular dated 15.02.2023 on introduction of Issue Summary Document (ISD) and dissemination of issue advertisements. To view the Circular, Click Here. To view the format for ISD, Click Here 

SEBI Circular dated 15.02.2023 regarding introduction of Issue Summary Document (ISD) and dissemination of issue advertisements


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