Offer size
At least 26% of the target's total shares as on the tenth working day from the closure of the tendering period for a mandatory offer, capped so the acquirer does not exceed the maximum permissible non-public…
This one is not written up yet
The definition above is the short version. A full explanation — how it works, a worked example and the exam traps — is still being written. In the meantime the chapter below covers it in context.
Written up from the same chapter
- ControlIn the beneficial-ownership tests, the right to appoint a majority of directors or to control management or policy decisions — the limb that catches an owner holding no shares at all.
- Escrow accountThe security an acquirer must deposit before a takeover open offer — 25% of the first Rs 500 crore of consideration plus 10% of the balance — so that the money to pay tendering shareholders is ring-fenced.
Where this is taught
Free preparation for NISM Series IX← All terms