Regulatory Alerts2025-12-05
Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2025
The Securities and Exchange Board of India issued the 2025 Amendment Regulations to mandate that share valuations for takeovers be conducted exclusively by independent registered valuers, replacing previous provisions allowing merchant bankers or chartered accountants. The regulations define 'valuer' under the Companies Act, 2013, and update valuation methodologies to rely on book value, comparable trading multiples, and other relevant metrics. A nine-month transition period is provided for ongoing valuation assignments initiated before the regulations' enforcement to ensure their completion.
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