Sebi takeover code

My doubt is regarding public announcement ,if acquirer ,acquired 5%shares and previously he didnt have any shares of target company then also he have to make public announcement

An acquirer, along with PAC, if any, intends to acquire shares which along with his existing shareholding would entitle him to exercise 25% or more voting rights, can acquire such additional shares only after making a Public Announcement of open offer. Further, a person who already holds 25% or more shares in target company, intends to acquire more than 5 % shares in the target company in any financial year, also has to give an open offer.

Answer given by Shubhamm Sir at 13-Apr-2023 06:42 PM

No. He only have to follow disclosure requirement as per regulation 29.

Answer given by Shubhamm Sir at 13-Apr-2023 06:36 PM