INDIA: SEBI publishes revised forms for India major shareholdings reporting

Tuesday September 9 2014

The Securities and Exchange Board of India has published revised templates for reporting under Regulation 30 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 for India major shareholdings.

Regulation 30 deals with continuous disclosure. According to subregulation (1), every person, who together with persons acting in concert with him, holds shares or voting rights entitling him to exercise twenty-five per cent or more of the voting rights in a target company, shall disclose their aggregate shareholding and voting rights to the target company and the stock exchanges where the shares of the target company are listed, as of the thirty-first day of March, in such target company in such form as may be specified.

Subparagraph 2 adds that a promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the thirty-first day of March, in such target company in such form as may be specified.

Click on the above link for the revised forms.