When an entity makes an offer to shareholders of a listed company for purchasing their shares at a particular price and within a specified timeframe, it is known as open offer. The offer could be either voluntary or mandatory. An investor crossing the thresholds of 15%, 55% or 75% holding in a listed company has to come out with an open offer for at least 20% more equity, according to Sebi's 'Substantial Acquisitions and Takeover Code'.
When an entity makes an offer to shareholders of a listed company for purchasing their shares at a particular price and within a specified timeframe, it is known as open offer. The offer could be either voluntary or mandatory. An investor crossing the thresholds of 15%, 55% or 75% holding in a listed company has to come out with an open offer for at least 20% more equity, according to Sebi's 'Substantial Acquisitions and Takeover Code'.