Section 59 in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
59. Post-listing exit opportunity for dissenting shareholders.
- The promoters, or shareholders in control of an issuer, shall provide an exit offer to dissenting shareholders as provided for in the Companies Act, 2013, in case of change in objects or variation in the terms of contract related to objects referred to in the offer document as per conditions and manner is provided in Schedule XX:Provided that the exit offer shall not apply where there are neither any identifiable promoters nor any shareholders in control of the issuer.
