sebi:WTM/AN/CFD/CFD-SEC-5/31607/2025-26
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Facts / Headnote
Clarification issued permitting the Noticee to complete open offer assignments where Public Announcement has already been made, subject to disclosure of the August 19, 2025 Order and explicit consent of acquirers/clients.
Parties
- Swaraj Shares and Securities Private Limited
Holding
The Noticee may complete pending open offer assignments where a Public Announcement has already been made, subject to disclosing the SEBI Order dated August 19, 2025 to the acquirers/clients and obtaining their explicit consent to continue with the Noticee as Merchant Banker for that limited purpose.
Full text
Addendum to the Final Order dated August 19, 2025 in the matter of Swaraj Shares and Securities Private Limited Page 2 of 2
3. Therefore, in the interest of investors and orderly completion of regulatory process, it is clarified that the Noticee may complete open offer assignments where the Public Announcement has already been made, subject to the following safeguards:
a. The Noticee shall make a disclosure of the SEBI Order dated August 19, 2025 to the acquirers/clients whose assignments are pending completion. b. The respective acquirers/clients shall provide explicit consent to continue with the Noticee as Merchant Banker for the limited purpose of completing the ongoing assignments.
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Source: SecMarx — sebi:WTM/AN/CFD/CFD-SEC-5/31607/2025-26. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.