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SEBI relaxes OFS rules

“Seller(s) shall announce the intention of sale of shares at least on the day prior to the offer for sale,” SEBI said

January 01, 1970 5:30 IST | India Infoline News Service
Market regulator SEBI (Securities and Exchange Board of India) relaxed offer for sale (OFS) guidelines by allowing companies to sell shares through the route on just one day’s notice.

“Seller(s) shall announce the intention of sale of shares at least on the day prior to the offer for sale,” SEBI said in a circular on Thursday.

The OFS route has been widely used by promoters to increase public share holding to the mandatory 25% within the SEBI stipulated deadline of June.

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