Sebi Approves 10 Per Cent Creeping Acquisition Limit

The board members of the Securities and Exchange Board of India (Sebi) have unanimously agreed to hike the creeping acquisition limit from the present level of 5 per cent to 10 per cent, but with a rider. The proposal was circulated to board members through a circular resolution, and was ratified by all members.

The rider is that the new limit will be in force only for six months from the date of notification of the change, which is expected to be done next week.