Write short notes on the following: (b) Discovered price under delisting of equity shares

"Discovered price" means the price discovered through reverse book building process in terms of Schedule II of the SEBI (Delisting of Equity Shares) Regulation 2021. Under Regulation 20 of the SEBI (Delisting of Equity Shares) Regulation 2021, after fixation of the floor price in terms of Regulation 19A, the discovered price shall be determined through the reverse book building process in the manner specified in Schedule II of these regulations, and shall be disclosed in the detailed public announcement and the letter of offer by the manager of the offer. The acquirer shall have the option to provide an indicative price in respect of the delisting offer, which shall be higher than the floor price calculated in terms of Regulation 19A. The acquirer shall also have the option to revise the indicative price upwards before the start of the bidding period and the same shall be duly disclosed to the shareholders. The acquirer may, if it deems fit, pay a price higher than the discovered price.