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+ Do all acquisitions of shares in excess of the prescribed limits and / or control lead to an open offer?
+ Does SEBI have the power to grant exemption to an acquirer from making an open offer or grant relaxation from the strict compliance with prescribed provisions of the open offer process, even if the proposed acquisition of shares or control is not covered
+ Do only direct acquisitions of shares or control of the target company lead to the requirement of making an open offer?
+ What is a competitive offer?
+ What happens if there is a competitive offer?
+ What is a conditional offer?
+ What is meant by the term ‘minimum level of acceptance’?
+ If the minimum level of acceptance is not reached, can the acquirer acquire Shares under the Share Purchase Agreement, which triggered the offer?
+ What is the stipulated size of an open offer?
+ What is ‘offer price’ and can the acquirer revise the offer price?
+ How do you determine whether the shares of the target company are frequently traded or infrequently traded?
+ How is the offer price calculated in case shares are frequently traded on the stock exchange?
+ How is the offer price calculated in case shares are infrequently traded on the stock exchange?
+ Will the promoter be entitled to non-compete or any other fees other than the offer price?
+ Are there special provisions for determining the offer price in case of open offer arising out of indirect acquisition of a target company?
+ What is the difference between ‘offer period’ and ‘tendering period’?
+ Who are eligible shareholders?
+ What are the typical steps and corresponding timelines, in an open offer process?
+ What is ‘identified date’ in the context of SAST Regulations, 2011?
+ What is the purpose of the escrow account in the open offer process?

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