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[Cites 0, Cited by 0] [Section 28] [Entire Act]

Securities And Exchange Board Of India - Subsection

Section 28(2) in Securities And Exchange Board Of India (Substantial Acquisition Of Shares And Takeovers)Regulations, 1997

(2)The escrow amount shall be calculated in the following manner,-
(a)For consideration payable under the public offer,-
up to and including Rs. 100 crores 25 per cent;
exceeding Rs. 100 crores 25 per cent;
up to Rs.100 crores and 10 per cent thereafter.
(b)For offers which are subject to a minimum level of acceptance, and the acquirer does not want to acquire a minimum of 20 per cent, than 50 per cent of the consideration payable under the public offer in cash shall be deposited in the escrow account.