 "Sebi")
The Securities and Exchange Board of India (Sebi) has proposed that in case of delay of an open offer, the revised offer price may be calculated after addition of ten per cent interest rate.
According to market participants, the regulator has made the proposal in light of minority shareholders, along with Sebi, moving Supreme Court seeking implementation of open offer by IHH for Fortis Healthcare's takeover.
In its discussion paper, the regulator observed that there are instances where an open offer can get delayed on account of valuation disputes, inter-party disputes, investor complaints, delay in making payment by acquirer upon
