Cipla's major promoter had sought an 'informal guidance' from SEBI on whether the proposed voting agreement among his family members would trigger an open offer.
After receiving approval from SEBI, promoters of Cipla will decide on their proposed family pact in "due course", wherein the entire Hamied family will vote as a single unit, according to a media report.
Cipla's major promoter Yusuf Hamied had sought an 'informal guidance' from SEBI on whether the proposed voting agreement among his family members would trigger an open offer.
The SEBI has opined that the agreement would qualify for exemption from open offer requirement under takeover norms.
Cipla's major promoter Yusuf Hamied had sought an 'informal guidance' from SEBI on whether the proposed voting agreement among his family members would trigger an open offer.
The SEBI has opined that the agreement would qualify for exemption from open offer requirement under takeover norms.
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