|S. No.||Particulars||Previous Requirement||Amendment Introduced|
|(i)||Subsequent QIPs||An entity may undertake a subsequent QIP only after the expiry of 6 months from the date of the prior QIP.||The time period required between subsequent QIPs has been reduced to 2 weeks from the date of prior QIP.|
|(ii)||Substantial acquisition of shares or voting rights||Any acquirer, together with persons acting in concert who already holds 25% or more of voting rights in a target company will not acquire additional 5% or more of the voting rights without making a public announcement of an open offer (Open Offer Rule).||A new proviso has been introduced as an exception to the Open Offer Rule and now additional acquisition by a promoter beyond 5% but no more than 10% of the voting rights in financial year 2020-2021 is permitted but only pursuant to preferential issue of equity shares of the target company.|
|(iii)||Voluntary open offer||An acquirer would not be eligible to make a voluntary open offer if the acquirer has acquired shares of the target company in the preceding 52 weeks without attracting obligation to make a public announcement of an open offer.||This requirement has been relaxed till 31 March 2021.|
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