Open offers by listed companies decline 39% to Rs 9,000 cr in Apr-Oct

Listed companies made open offers worth close to Rs 9,000 crore to public shareholders in the first seven months of the current fiscal, a drop of 39 per cent from the year-ago period.

According to Sebi's latest monthly report, a total of 30 open offers for shares worth Rs 8,973 crore were made by the companies during the April-October this financial year (2020-21).

In comparison, 40 offers, amounting to Rs 14,603 crore, were made in the same period preceding fiscal.

Under the Sebi regulations, pursuant to the substantial acquisition of shares or change in control in a listed firm, an acquirer has to