Mumbai, March 20 (IANS) Securities market regulator Sebi has "exempted" the central government from making open offers for its proposed acquisitions of additional shares of six public sector banks (PSBs).
According to separate "exemption" orders passed by Sebi, the central government will not be required to make open offer to acquire shares in PNB, Syndicate Bank, Vijaya Bank, Bank of Baroda, Union Bank of India and Canara Bank.
The central government is expected to infuse additional equity capital in the six PSBs via acquisition of shares on a preferential basis in these six PSBs.
--IANS
rv/sku/
(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)
0