sebi:WTM/KCV/CFD/09/2025-26
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Facts / Headnote
Rejected
Provisions invoked
- s. 11
- s. 19
Regulations
- Reg. 4
- Reg. 11
- Reg. 3
- Reg. 10
Holding
SEBI rejected Ms. Vijay Lakshmi Praturi's application for exemption from the open-offer obligations under Regulations 3 and 4 of the Takeover Regulations for the proposed preferential allotment of equity shares and convertible warrants in Telecanor Global Limited.
Full text
Order in the matter of Telecanor Global Limited Page 2 of 15 Securities and Exchange Board of India (hereinafter referred to as “SEBI”) from Ms. Vijay Lakshmi Praturi (hereinafter referred to as “Proposed Acquirer”).
Order in the matter of Telecanor Global Limited Page 3 of 15 III. The Target Company proposes to allot 30,00,000 equity shares and 40,00,000 convertible share warrants on preferential basis to the Proposed Acquirer. The shareholding pattern of the Target Company before and after the proposed acquisition (as mentioned in the aforesaid application) is as under: Shareholders’ category Before the proposed acquisition After the proposed acquisition No. of shares held % of share holding No. of shares held % of share holding A. Promoter’s Holding
Order in the matter of Telecanor Global Limited Page 4 of 15 IV. The proposed acquisition of equity shares by way of preferential allotment would increase the shareholding of the Proposed Acquirer in the Target Company from 13.31% to 31.38%. The aforesaid acquisition of shares and voting rights by the Proposed Acquirer in the Target Company would attract applicability of the provision of sub-regulation (1) of regulation 3 read with regulation 4 of the Takeover Regulations.
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Source: SecMarx — sebi:WTM/KCV/CFD/09/2025-26. 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.