Sebi asks 8 entities to make open offer to Kanchan Int'l shareholders

Capital markets regulator Sebi has directed eight entities to make an open offer to shareholders of Kanchan International Ltd.

The market regulator also directed the entities to pay 10 per cent interest along with the offer price to shareholders who were holding shares at the time when the company violated the Sebi norms.

The entities have been asked to make the open offer within 45 days from the date when the coronavirus-induced lockdown would be lifted.

The order would come into forceon May 18, 2020or at the end of the lockdown period, if the lockdown is further extended beyondMay 17, 2020, Sebi said.