Sebi market regulator introduced more checks and balances for mergers and acquisitions involving unlisted companies. Unlisted companies merge with Listed entity has to fulfill certain conditions.
The public shareholding of the resultant entity created by the merger of an unlisted and a listed company has to be more than 25 per cent
The objective to have wider public shareholding
The move comes after a recent merger involving insurance companies HDFC Life and Max Life had raised questions over non-compete fees paid to the promoters of the Max group
SEBI also announced that allowing investments in newer instruments and also permitting fund houses to use celebrities for industry level advertisements The advertisements not at fund houes or scheme level
For more details Business Standard
The public shareholding of the resultant entity created by the merger of an unlisted and a listed company has to be more than 25 per cent
The objective to have wider public shareholding
The move comes after a recent merger involving insurance companies HDFC Life and Max Life had raised questions over non-compete fees paid to the promoters of the Max group
SEBI also announced that allowing investments in newer instruments and also permitting fund houses to use celebrities for industry level advertisements The advertisements not at fund houes or scheme level
For more details Business Standard