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The said revised mechanism shall be applicable to all the tender offers for which Public Announcement is made on or after October 15, 2021. Stock Exchanges and Depositories shall take necessary steps and put in place necessary infrastructure and systems for implementation of the mechanism and ensure compliance with the provisions of this Circular. This Circular is being issued in exercise of the powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992 read with regulation 18(6A) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, regulation 9(iii) of SEBI (Buy-back of Securities) Regulations, 2018 and regulation 17(2) and regulation 18 of SEBI (Delisting of Equity Shares) Regulations, 2021.