01
Transaction assessment
Coordinate the review of the proposed acquisition, ownership and control arrangements with legal and other advisers.
Ownership transitions / Open offers
Clarity through a change in ownership.
Acquiring shares or control in a listed company can involve an open-offer process. We help bring the transaction, disclosures and shareholder steps into focus.
Discuss Open offers
How we help
Plan the offer around the transaction
An acquisition combines commercial objectives with a defined regulatory process. The work starts by understanding the proposed structure, the parties and their holdings, then coordinating the documentation and execution required for the applicable open offer.
02
Offer documentation
Support the preparation and coordination of the applicable announcement, public disclosures and offer documents.
03
Tendering & settlement
Bring the relevant intermediaries and transaction timetable together through shareholder participation and settlement.
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.
- Proposed transaction structure and acquisition documents
- Details of the acquirer, related parties and existing holdings
- Target-company public disclosures and financial information
- Funding arrangements and the intended transaction timetable
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.
Open offers are governed by SEBI’s Substantial Acquisition of Shares and Takeovers Regulations. Whether an obligation arises depends on the facts of the acquisition and applicable exemptions.
SEBI · Current regulations
A little more clarity
Questions worth asking.
Does every acquisition require an open offer?
No. The proposed acquisition, voting rights, control arrangements and any applicable exemption need to be evaluated under the current takeover framework.
When should the advisory review begin?
Before committing to a structure or timetable. Early coordination helps identify how transaction signing and disclosure obligations fit together.
Can an open offer be treated as a normal purchase of shares?
An open offer has its own disclosure, funding, participation and settlement requirements. It needs a coordinated process involving the relevant advisers and intermediaries.
Related expertise
The next conversation
Let’s start with your business.
Tell us where you are today and what you want to build next.