Shri Prashant Saran, Whole Time Member, SEBI, has passed an order dated September 6, 2013, granting exemption to M/s. Natronix Semiconductor Technology Private Limited (Acquirer) from the applicability of regulation 3(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, for the proposed acquisition of 55.97% shares of the Target Company.
The application seeking exemption was forwarded by SEBI to the Takeover Panel. The Panel also recommended granting of exemption subject to compliance with certain conditions.
The full text of the order is available on the website www.sebi.gov.in
