New Takeover Code in Place from Today

We can expect a flurry of activity in the coming months as the Securities and Exchange Board of India’s (SEBI)’s new Takeover Code becomes operational from today. While promoters with less than 25% state would be striving to retain their control, acquirers would be plotting to takeover target companies. We can expect heightened private equity activity in the Indian market. It would be interesting to watch the response of the major Indian corporates in the new scenario. Expect a tug-of-war between the promoters and acquirers. The action begins now.

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