The Securities Appellate Tribunal (SAT) has set aside SEBI's previous directions on TruCap Finance's open offer, remanding the case for a fresh order. This means the open offer process is still under regulatory review.

TruCap Finance Open Offer Case Back to SEBI

TruCap Finance Ltd has seen its open offer process remanded back to SEBI by the Securities Appellate Tribunal (SAT).

What just happened

The SAT allowed an appeal by Marwadi Chandarana Intermediaries Brokers Private Limited, the acquirer, against SEBI's earlier regulatory directions concerning the open offer to TruCap Finance shareholders.

Why this matters

SAT has set aside SEBI's communications from October 27, 2025, and January 30, 2026, and has asked SEBI to pass a fresh speaking order. This decision means the regulatory scrutiny of the open offer is ongoing, and its final outcome is pending.