India:
Review Of Offer For Sale (OFS) Of Shares Through Stock Exchange Mechanism
16 November 2015
Vaish Associates Advocates
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Securities and Exchange Board of India (SEBI) has taken steps to
encourage retail investors to participate in the OFS process and to
simplify the bidding process for retail investors. It has been
decided that:
- OFS notice shall continue to be given latest by 5 pm on T-2
days. However T-2 days shall be reckoned from banking day instead
of trading day.
- It would be mandatory for sellers to provide the option to
retail investors to place their bids at cut off price in addition
to placing price bids.
All other conditions remaining unchanged
Link: -
http://www.sebi.gov.in/cms/sebi_data/at
tachdocs/1435312461669.pdf
[Source: Notification No. CIR/MRD/DP/12/2015 dated June 26,
2015]
Previously published by Lexology
© 2013, Vaish Associates, Advocates,
All rights reserved with Vaish Associates, Advocates, 10, Hailey
Road, Flat No. 5-7, New Delhi-110001, India.
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