Kunal is thinking of acquiring shares in Dream Real Estate Ltd. (listed company). Under the provisions of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, whether the provisions of event-based dis

According to Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, any acquirer together with persons acting in concert (PAC) acquiring 5% or more of the shares or voting rights of the target company shall disclose to their aggregate shareholding and voting rights in such target company. Further, according to Regulation 29 (2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, any person together with persons acting in concert (PAC), holds shares or voting rights entitling them to five per cent or more of the shares or voting rights in a target company, shall disclose the number of shares or voting rights held and change in shareholding or voting rights, even if such change results in shareholding falling below five percent, if there has been change in such holdings from the last disclosure made under sub-regulation (1) or under this sub regulation; and such change exceeds two per cent of total shareholding or voting rights in the target company. Kunal already has 6% shares of Dream Real Estate Ltd. (listed company) and he intends to acquire 3% shares more, since the additional acquisition is more than 2%, Kunal is required to disclose the changes arising due to this acquisition.