SEBI notifies new takeover norms -New norms to be applicable 30 days from notification -Initial trigger threshold hiked to 25% vs existing 15% -Minimum open offer size raised to 26% from 20% -Full disclosure of aggregate holding, voting rights -Full disclosure by acquirer, promoter, all acting in concert -Notification provides details for open offer exemptions -Inter se promoter transfer exempt from open offer
Other stocks and sectors that are in news today: -Listing Today: PG Electroplast – Issue price Rs 210 per share -RCF plans FPO next year -Maruti likely to settle row with workers, workers have accepted 5th draft of the good conduct bond with some changes - BS -Lavasa Case: Ministry asked to pass order in 3 weeks -JSW in Bengal faces fresh roadblocks over over the land allotment, coal access falling flat -Swajas Air Charters IPO with a price range of 90-100 opens today -Kirloskar Oil Engines bags an order of Rs 396 crore from Nuclear Power Corp of India -Borosil Glass work board approves buy back of 9.6 lakh shares at Rs 850/sh ((CMP: 818.25)) -Innoventive Industries receives sanction for Industrial promotion subsidy claim of Rs 25.46 crore -Board Meet: Cummins India for allotment of bonus shares in 2:5 -Ex Bonus: Entegra 4:13 -Stock Split: Tata Power 10:1 -F&O Ban: ABG Shipyard, Gitanjali gems, IFCI, Ruchi Soya -Blackstone sells USD 1.3 billion India Funds and Asian Tiger Fund to Aberdeen, Punita Kumar Sinha quits, to pursue other opportunities -CBI finding it difficult to meet the deadline of September 30th to file third chargesheet related to 2G spectrum -Wipro looking to sell some non-core assets including US arm; to fetch around USD 400 million - ET -Telenor may rope in new partner if Unitech fails to participate in Rs 8200 crore rights issue -GAIL stalls Rs 3000 crore pipeline projects over land acquisition hurdles, seeks MoEF help- ET -PE player Advent International closes in on BT's stake in Tech Mahindra (BT holds: 23.27% in Tech Mahindra) -NMDC's steel foray hits mines ministry hurdle - BS -Cairn Energy to shell out USD 1.5 billion as tax for its stake sale deal with Vedanta resources - BL -Eveready to sell land to pay debt, plans to unload 60-70 acres in Delhi, Hyderabad & Bangalore (DNA) -Chhabria-Mallya ties on the rocks again; United Spirits to file a petition to restrain KRC from raising funds (ET)
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