Report to the exchanges after an exempt acquisition
The report an acquirer files with the exchanges after completing an acquisition exempt from the open offer requirement.
Report to the exchanges after the acquisition
Counted from the acquisition made under a Reg 10 exemption
- SEBI
- Insider trading and takeovers
- Not specified
- 2026-09-01
Not later than four working days from the acquisition. SAST Reg 10(6) requires an acquirer who has acquired shares or voting rights, or control, under an exemption in Reg 10 to file a report in the prescribed form with every stock exchange where the target's shares are listed. This follows the separate Reg 10(5) prior intimation, which is due at least four working days before the acquisition.
Deadlines counted from an event
Not later than four working days from the acquisition, file the prescribed report with every stock exchange where the target's shares are listed. Reg 10(6) sets the period. The engine skips weekends only, so a computed date is an estimate.
The rule
Not later than four working days from the acquisition, file the prescribed report with every stock exchange where the target's shares are listed. Reg 10(6) sets the period. The engine skips weekends only, so a computed date is an estimate.
Who must comply
- An acquirer who has completed an acquisition under an exemption in Reg 10
Statutory basis
Before you file
- Get the completed transaction documents.
- Record the date the acquisition was completed.
- Get the prescribed report format from the SAST master circular.
How to file
- Complete the prescribed report with the exemption relied on and the holding after the acquisition.
- File it with every stock exchange where the target's shares are listed.
- Do this within four working days of the acquisition.
- File the Reg 10(7) report with SEBI as well where the exemption requires it.
If you miss it
Section 15A(b) of the SEBI Act applies at ₹1 lakh for each day the failure continues, capped at ₹1 crore, and section 15HB at up to ₹1 crore. As with the prior intimation, the exemption itself is conditional, so a missing report can put the acquisition back inside the open offer requirement and section 15H.
- The report is how the market learns that a large acquisition happened without an open offer, so a gap draws attention to the exemption rather than away from it
Common questions
When is the Reg 10(6) report due?
Not later than four working days from the acquisition, to every stock exchange where the target's shares are listed.