01
Evaluate the proposal
Review the ownership structure, commercial objectives and proposed transaction approach with the relevant advisers.
Ownership transitions / Delisting
Manage the transition beyond public markets.
A proposed delisting calls for careful planning, shareholder participation and clear communication. We help coordinate the work from assessment through execution.
Discuss Delisting
How we help
Keep every decision connected to the next
The proposed ownership structure, funding, pricing mechanism and shareholder process need to be considered together. We support transaction planning and coordination with the company, acquirer and relevant intermediaries under the applicable delisting framework.
02
Plan the shareholder process
Coordinate documentation, disclosures, approvals and the applicable pricing and participation mechanism.
03
Coordinate execution
Support the timetable, tendering, settlement and completion workstreams, subject to the transaction meeting its conditions.
Before we begin
The information
that starts the work.
An initial review helps identify priorities and the questions to resolve. These are useful starting materials for our conversation.
- Promoter and public shareholding information
- Company disclosures and financial statements
- Acquirer objectives and funding arrangements
- Proposed structure and key transaction dependencies
A useful distinction
Understand the framework. Then plan the transaction.
Rules, eligibility and required steps depend on the company, the securities and the proposed structure. The linked official source provides a starting point for further reading.
The delisting framework includes reverse book building and, where applicable, a fixed-price process. The correct route depends on eligibility and the transaction’s circumstances.
SEBI · Delisting of Equity Shares Regulations
A little more clarity
Questions worth asking.
Is reverse book building the only delisting route?
No. The current regulations also provide for a fixed-price process in applicable cases. The available route needs to be assessed for the specific company and transaction.
Is a delisting certain once it is announced?
No. A proposal must meet the applicable conditions, including required approvals and shareholder participation. Its outcome cannot be assumed at the planning stage.
Who needs to be involved in planning?
The company, acquirer, merchant banker, legal advisers and other relevant intermediaries need a coordinated understanding of their responsibilities and the timetable.
Related expertise
The next conversation
Let’s start with your business.
Tell us where you are today and what you want to build next.