QIPs, open offers and buybacks are the three high-impact capital-market actions a listed Indian company will execute — each governed by its own SEBI framework, each carrying specific pricing, disclosure and procedural requirements. Transique advises listed companies and promoter groups on all three — alongside the company’s merchant banker— to drive clean execution within the regulatory envelope.
We sit on the issuer’s side of the table. We coordinate with the merchant banker and manage regulator interactions so that the promoters can stay focused on the business.
Key triggers include: (1) acquisition of 25% or more of voting rights; (2) acquisition beyond annual creeping acquisition of 5% for promoter/shareholders holding more than 25%; (3) change in control irrespective of shareholding. Each trigger has open-offer obligations (size, pricing, timing).
SEBI ICDR requires special resolution approval for a QIP under Regulation 170. The resolution can be obtained through an EGM or postal ballot; once approved, the QIP can be executed within 12 months. A fresh resolution is required if not executed in that window.
Tender-offer buybacks use pro-rata acceptance from all shareholders at a fixed price. Open-market buybacks happen on the exchange at market prices with quantity and price caps. Tender-offer suits larger, price-sensitive buybacks; open-market suits opportunistic, smaller ones. Tax treatment of the two routes differs.
Typically 60–70 working days from public announcement to consideration payment — subject to SEBI observation timelines. Our project plan maps every statutory milestone in writing at the kick-off.