The Securities and Exchange Board of India (SEBI) on 25 January 2013 revised the mechanism of the Offer for Sale (OFS). The board took the decision of revising the norms because the deadline for the promoters of the listed companies to offload their stake for meeting the minimum public shareholding norm of 25 percent by June 2013 is approaching.
These revisions would make the norms much more efficient, transparent and economical. The quantity for cumulative bidding would be made available online for the market across the trading session at different intervals to take care of the orders that carries 100 percent upfront margin and also of the orders which have been placed without the upfront margin. The indicative price of the market would be disclosed for the market across the trading session and is calculated on the basis of bids and orders.
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