Tendering of shares in open offers, buy-back offers and delisting offers by marking lien in the Demat account of the shareholders.

SEBI vide Circular no. SEBI/HO/CFD/DCR-III/CIR/P/2021/615
dated 13th August, 2021 has issued Circular related to lien of shares tendering.
i. Under the existing mechanism, the shares tendered by the shareholders are required to be directly transferred to the account maintained by the Clearing Corporation and different tendering processes are being adopted by Depositories. Such transfer involves systematic risk, substantial time and cost.
ii. In consultation with Depositories, Clearing Corporations and Stock Exchanges, it has been decided that a lien shall be marked against the shares of the shareholders participating in the tender offers.
iii. Upon finalization of the entitlement, only accepted quantity of shares shall be debited from the demat
account of the shareholders. The lien marked against unaccepted shares shall be released.


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