Sebi exempts government from making public offers in six PSBs

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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

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