Right Issue Exemption under Takeover Code REGULATIONS
Nitesh Agarwal
(Querist) 10 December 2010
This query is : Open
Hi,
As we know that Allotment pursuant to an application made by the share holders for Right Issues is exempted under Regulation 3 of SEBI (SAST) Regulations, 1997.
My doubt is in case the company go for rights issue with a clause of renounciation and the person(nominee) who acquires such shares on renounciation rights, will that attract the takeover code ??
Regards,
Nitesh Agarwal