SEBI has hiked acquisition limit to 75% from 55%

The Securities and Exchange Board of India, or Sebi, has hiked the creeping acquisition limit to 75% from 55% shareholding.Promoters could earlier not do creeping acquisition beyond 55%. Now, they can buy up to 5% every year till the 75% limit is hit. The market regulator said creeping acquisition beyond 55% will only be through open market normal segment and not bulk deals. There will be an automatic exemption up to 5% increase in shareholding of promoters after the company buy back.