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SEBI today has released a consultation paper inviting public comments on pricing of preferential issues and exemption from open offer for acquisition in companies with stressed assets.

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#SEBI has received representations that the current pricing guidelines under ICDR Regulations are too onerous for financial #investors looking to invest in stressed companies. Investors who are looking to take control and guide a company out of stress are also looking at open offer obligations.

The consultation paper proposes exemptions under ICDR Regulations pricing guidelines and exemption under SAST Regulations from making open offer for allottees of preferential issue in case of stressed companies, subject to certain conditions including lock-in period, approval from majority of minority #shareholders and issue not to be made for promoter/ promoter group entities.

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