Right of the promoter to either make a counter offer or reject the offer

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Full Text of the Document

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....y the book building process. 3[(1A) If the price discovered in terms of regulation 15 is not acceptable to the acquirer or the promoter, the acquirer or the promoter may make a counter offer to the public shareholders within two working days of the price discovered under regulation 15, in the manner specified by the Board from time to time: Provided that the counter offer price shall not be less....