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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Revised operating guidelines of offer for sale

21-Feb-2024 | NSE Circular Ref. No:24/2024

NSE has issued Revised operating guidelines of offer for sale in line with SEBI vide circular no. SEBI/HO/MRD/MRD-POD- 3/P/CIR/2024/6 dated January 23, 2024 on Framework for Offer for Sale of shares to Employees through Stock Exchange Mechanism.

By virtue of this circular it is informed that the procedure for OFS to employees of the eligible companies through the Stock Exchange Mechanism is an additional option to the existing procedure (outside the stock exchange mechanism) available to eligible sellers.

Members/ Participants and Sellers are requested to abide by revised operating guidelines and terms & conditions of this circular (Annexure - A) or any other circular(s) issued from time to time regarding OFS by NSEIL and such other requirements as prescribed by SEBI, or any other regulatory authority.

Key Highlights of revised operating guidelines are:-

1.Comprehensive scheme governing offer for sale of shares through the Stock Exchange Mechanism (Revised operating guidelines and terms & conditions)
2. Information needed from the Seller for OFS
3. Seller Letter
4. Bulk upload file format
5. Order status report (Allocation report)
6. Retail/Employee bid rejection report

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