Promoters of ABC Ltd., a listed company, are planning to delist the company's shares from stock exchanges. The promoters feel the price discovered through reverse book building process is not attractive. What are the opt

Under SEBI (Delisting of Equity Shares) Regulations, 2009, if the price discovered through reverse book building process is not agreeable to the promoter, the only option available to him was to reject the delisting process and withdraw from delisting. However, the Regulations have been amended on November 14, 2018 through SEBI (Delisting of Equity Shares) (Second Amendment) Regulations, 2018 under which if the price discovered is not acceptable, promoter may make a counter offer to the public shareholders within two working days of the price discovered. However, such counter offer price shall not be less than the book value of the company as certified by the merchant banker. Hence, the promoter of ABC Ltd can explore the newly available counter offer option to pursue his delisting process.