The Jain family who own Jai Yatayat, hold a majority stake of 95.45 per cent in the company. In an application made to Sebi in May, DLF had stated that the majority stakeholders and the remaining 4.55 per cent shareholders in the company had expressed their willigness to sell their entire stake in Jai Yatayat, and have issued a consent letter to this effect to the acquirers.After acquisition DLF would be owning 100 per cent of the issued capital of the company, whose shares are listed on the BSE. DLF had requested Sebi for an exemption from the takeover code stating that the grant of exemption would speed up the acquisition formalities and economise the acquisition costs and would not be prejudicial to the interests of the shareholders of the company.

Sebi while granting exemption asked DLF to take care of the consequences of 100 per cent acquisition with reference to the listing regulations.The securities regulator also noted that as 100 per cent shareholding of Jai Yatayat was sought to be acquired after taking the consent of all the shareholders concerned, making an open offer would be an empty formality and hence exemption may be granted to the acquirers from making the public offer.