Capital market regulator Securities and Exchange Board of India (Sebi) will soon take up the recommendations of the Takeover Regulations Advisory Committee (TRAC) for discussion. “The comments have come to us; we are collating them and it is our intention to take it up at the next Sebi board meeting,” Sebi chairman CB Bhave said on Friday. The outcome of the board meeting will decide Sebi’s course of action. Headed by C Achuthan, TRAC had submitted its draft final report to Sebi on July 19. Until August 31, the regulator received over 100 comments from the public on the recommendations. The Achuthan committee had recommended an increase in the open offer size to 100% of equity share capital from the present minimum limit of 20%. The committee also suggested raising the open offer trigger to 25% from the current 15%. This would mandate any entity acquiring 25% or more in a target company to make an open offer to buy all shares of the target company, the idea being to ensure equal opportunity for all shareholders willing to tender shares. […]