Securities and Exchange Board of India

15.02.2016

Capital Market

Review of Offer for Sale of Shares through stock exchange mechanism

MANU/SSMD/0005/2016

The Securities and Exchange Board of India has modified the guidelines on sale of shares through Offer for Sale mechanism in response to suggestions from both sellers and investors. Aimed at encouraging greater participation of all investors, sellers under OFS will have to notify stock exchanges of intention to sell shares by 5pm the day before the offer. Timeframe has also been set for retail and non-retail investors to ensure adequate opportunity to bid, and prevent under-subscription of shares.

Tags : Offer for sale shares notification timeframe

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