Securities and Exchange Board of India (Sebi) is likely to change certain provisions in the takeover regulations, including those pertaining to revision of open offer price, a senior official said.The watchdog’s move comes after public consultations on a discussion paper about review of SAST (Substantial Acquisition of Shares and Takeovers) Regulations.According to the official, the review exercise was aimed at simplifying the language, removing redundant provisions and inconsistencies as well as update references about Companies Act, 2013 in the regulations. It is being proposed that the additional time for the upward revision of open offer price can be extended to only one working day before the commencement of the offer, as per the official.This timeframe has been decided upon as revision of open offer price during the period of tendering of shares might create confusion among the investors, he added.

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