As per Sebi's latest monthly report, the market regulator approved a total of 8 open offers for shares worth Rs 29,242

crore in June 2013. This is the highest amount for open offers

made for a month in over a decade.

It was Unilever's open offer worth over Rs 29,000 crore that almost entirely contributed to this record figure for the month of June. The offer opened on June 21 and closed later on July 4.

Besides, this has taken the cumulative size of such public offers so far in the current fiscal to Rs 36,398 crore -- an

amount higher than the total figure for an entire fiscal years

since 2008-09. The figures for the current financial year

2013-14 includes data for 24 open offers recorded till June

2013.

In June, only one open offer was made for substantial acquisition which amounted to Rs 29,241 crore.

Another seven offers worth Rs one crore were made for consolidation of holdings, while none were made for change in

control of management.

Open offers are made by the company promoters and other entities for either consolidation of their holdings, as part

of substantial acquisition or change in control of management

in listed firms.

The Securities and Exchange Board of India (Sebi) rules require a mandatory open offer for minority shareholders in the event of any major change in the promoter holding of a listed company, including in the wake of any direct or indirect acquisition of 25 per cent.

Such open offers are required for acquisition of up to 26 per cent stake from public shareholders.