Securities And Exchange Board Of India - Subsection
Section 25(3) in Securities And Exchange Board Of India (Substantial Acquisition Of Shares And Takeovers)Regulations, 1997
(3)Any competitive offer by an acquirer shall be for such number of shares which, when taken together with shares held by him along with persons acting in concert with him, shall be at least equal to the [holding of the first bidder including the number of shares for which the present offer by the first bidder has been made.] [[Substituted for the words [number of shares for which the first public announcement has beenmade] by the SEBI (Substantial Acquisition of Shares and Takeovers) (Second Amendment)Regulations, 2002, w.e.f. 9-9-2002. ]]
