MANU/SSMD/0005/2016

Ministry : Securities and Exchange Board of India

Department/Board : Market Regulation Department

Circular No. : CIR/MRD/DP/36/2016

Date : 15.02.2016

Notification/ Circulars Referred : Circular no CIR/MRD/DP/18/2012 dated July 18, 2012 MANU/SSMD/0048/2012;CIR/MRD/DP/04/2013 dated January 25, 2013 MANU/SSMD/0013/2013;CIR/MRD/DP/17/2013 dated May 30, 2013 MANU/SSMD/0047/2013;CIR/MRD/DP/ 24 /2014 August 08, 2014 MANU/SSMD/0042/2014;CIR/MRD/DP/32 /2014 December 01, 2014 MANU/SSMD/0051/2014;Circular CIR/MRD/DP/12/2015 dated June 26, 2015 MANU/SSMD/0008/2015

Citing Reference:
Circular no CIR/MRD/DP/18/2012 dated July 18, 2012 MANU/SSMD/0048/2012  Referred

CIR/MRD/DP/04/2013 dated January 25, 2013 MANU/SSMD/0013/2013  Referred

CIR/MRD/DP/17/2013 dated May 30, 2013 MANU/SSMD/0047/2013  Referred

CIR/MRD/DP/ 24 /2014 August 08, 2014 MANU/SSMD/0042/2014  Referred

CIR/MRD/DP/32 /2014 December 01, 2014 MANU/SSMD/0051/2014  Referred

Circular CIR/MRD/DP/12/2015 dated June 26, 2015 MANU/SSMD/0008/2015  Referred

To

All Stock Exchanges

Dear Sir / Madam,

Review of Offer for Sale (OFS) of Shares through Stock Exchange Mechanism

1. Comprehensive guidelines on sale of shares through Offer for Sale mechanism were issued vide circular no CIR/MRD/DP/18/2012 dated July 18, 2012. These guidelines have been modified based on the representation/suggestion received from various stakeholders from time to time.

2. In order to further streamline the process of OFS with an objective to encourage greater participation of all investors including retail investors, it........