Do you know an open offer is triggered at 25% ownership, not majority control?

Under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, crossing 25% of voting rights in a listed target - alone or with persons acting in concert - triggers a mandatory open offer to acquire at least 26% more from public shareholders. A creeping acquisition of more than 5% in a financial year by someone already holding between 25% and the maximum permissible non-public shareholding also triggers it. The 25% line replaced the earlier 15% threshold on the Achuthan Committee's recommendation.