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PSUs to sell shares to employees at discount after OFS

The objective is to encourage employee participation in the PSU disinvestment process through offer-for-sale issues

June 20, 2013 3:19 IST | India Infoline News Service
Employees of public sector units will now get an option to subscribe up to 5% of the issue size at a discount after the completion of disinvestment in the concerned state-owned company, according to a media report.

The department of divestment (DoD) had sought SEBI (Securities and Exchange Board of India) approval for allotting shares to employees at a discount of 5% to the last cut-off price, the report added.

The objective is to encourage employee participation in the PSU disinvestment process through offer-for-sale issues.

The government had sought the views of SEBI as it wanted to allot shares to employees as part of the forthcoming OFS of NHPC Ltd, the report further said.

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