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
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