01 Feb 2024
Reflections on the key changes in 2023 to regulations governing public M&A transactions.
The year 2023 saw some significant changes to regulations relating to public M&A transactions. Although there is growing recognition of the need for a more efficient regulatory framework as India matures as a market, the reforms agenda remained somewhat muted. The regulatory focus was primarily on strengthening governance and disclosure rules, some of which also have both direct and indirect consequences for public M&A transactions.
The key highlights from the year are:
The Securities and Exchange Board of India (SEBI) notified a Comprehensive Framework on Offer for Sale (OFS) of Shares through Stock Exchange Mechanism in January 2023, to ease the rules for selling shares through an OFS on the stock exchange.
The OFS route allows shareholders in listed companies to divest significant stakes on the stock exchange through a public bidding process. Earlier, only shareholders holding at least 10% in the listed company could sell their shares through the OFS process. This route is now open to all shareholders, subject to a minimum transaction value of INR 25 crore (~USD 3 million). (To read our detailed update on this amendment, click here.)
Download PDF to read more
International Trade Quarterly Milestones (January-March 2026)
17 Apr 2026
Revisiting minimum public shareholding and minimum public offer requirements: The SCRR Amendments, 2026
15 Apr 2026Competition Quarterly Milestones (January-March 2026)
15 Apr 2026If you would like to receive content directly in your inbox from our knowledge repository, please complete this subscription form. This service is reserved for clients and eligible contacts.
Under the rules of the Bar Council of India, Trilegal is prohibited from soliciting work or advertising in any form or manner. By accessing this website, www.trilegal.com, you acknowledge that:
We prioritize your privacy. Before proceeding, we encourage you to read our privacy policy, which outlines the below, and terms of use to understand how we handle your data:
For more information, please read our terms of use and our privacy policy.
