JAMMU & KASHMIR BANK LTD. - 532209 - EXEMPTION FROM THE APPLICABILITY OF REGULATION 3(2) OF THE SEBI (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011 FOR THE PROPOSED ACQUISITION OF SHARES BY THE GOVERNMENT OF JAMMU & KASHMIR
Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we wish to intimate that the Securities and Exchange Board of India vide its order No. WTM/GM/CFD/81/2019-20 dated 18th March, 2020 under Section 11(1) and Section 11(2)(h) of the SEBI Act, 1992 read with Regulation 11(5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 has granted exemption to the proposed acquirer, viz the Government of Jammu & Kashmir, from complying with the requirements of Regulation 3(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 with respect to proposed acquisition of 15,65,92,546 equity shares in the Bank i.e., 8.95% during the Financial Year 2019-20 though the proposed preferential allotment.19-03-2020