Sebi to tighten takeover rules in M&A revamp-

Sebi plans to revamp M&A rules: The Securities and Exchange Board (Sebi), India’s market regulator, is set to overhaul its “takeover code” to provide a level playing field for smaller and retail investors.

The new rules will prevent acquirers from offering higher prices or added compensation to major shareholders that aren’t available to retail investors, Reuters reports, citing unnamed sources. The caution follows high-profile cases, like the 2022 Adani Group acquisition of media firm NDTV, where founders received a 17% premium over the price offered to the retail investors.

Why it matters: The barriers for acquisitions in India are shifting for global investors and buy-out funds, as the new rules will bar private negotiations with large shareholders for six months following the completion of an open offer to the public, as well as mandate external valuations for private stake sales. While this increases transparency, it removes the sweeteners often used to lock in friendly takeovers from Indian business families.

What’s next: Sebi is also reviewing “creeping acquisition” limits (currently 5% annually), looking at stricter caps like those in Singapore (1% per six months) and Hong Kong (2% annually) as benchmarks.

RattanIndia expands Gulf e-commerce via Noon partnership-

New Delhi-based RattanIndia Enterprises has partnered with UAE-based e-commerce platform Noon, through its retail arm Cocoblu Global Retail, to expand the sale of Indian consumer products across the Gulf region, PTI reports. Under the partnership, Cocoblu will list a curated range of products across multiple categories on Noon’s marketplace.

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