India's new takeover rules likely by end-June: official

India's capital markets regulator may finalise takeover rules by end-June, a senior finance ministry official said today, adding the trigger point for making open offers may be raised to 25% from 15% currently.

India's capital markets regulator may finalise takeover rules by end-June, a senior finance ministry official said today, adding the trigger point for making open offers may be raised to 25% from 15% currently.

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The official, who did not want to named, also told reporters that the Securities and Exchange Board of India was finalising new norms for private equity firms.

A panel set up by the regulator had last year proposed changes to takeover rules that are likely to offer better terms to minority shareholders, but could cut down the number of deals in the near term.

The takeover panel has suggested raising the trigger point for open offers to 25% from 15%. The panel has also recommended lifting the mandatory open offer size to 100% from 20%, making it easier for minority shareholders to participate in open offers arising from mergers and acquisitions.