CIRCULAR,
CIR/MRD/DP/ 17 /2013, dated May 30, 2013
Comprehensive Guidelines on Offer For Sale (OFS) of
Shares by Promoters through the Stock Exchange Mechanism
To,
BSE
Ltd.
National
Stock Exchange of India Ltd.
MCX
Stock Exchange Ltd.
1.
This is with reference to the comprehensive guidelines on sale of shares
through OFS mechanism issued vide circular no CIR/MRD/DP/18/2012 dated July 18,
2012 and amended vide circular CIR/MRD/DP/04/2012 dated January 25, 2013.
2.
The aforesaid circular is amended as under:
2.1. Para 5 (b) shall be replaced
by the following:
"Seller(s) shall announce
the intention of sale of shares at least on the day prior to the offer for sale,
along with the following information:".
2.2. Para 5 (b) (i) to (viii)
shall remain the same.
3.
All other conditions for sale of shares through OFS framework shall be as per
SEBI Circular CIR/MRD/DP/18/2012 dated July 18, 2012 and circular CIR/MRD/DP/04/2012
dated January 25, 2013.
4.
Stock Exchanges are directed to bring the provisions of this circular to the
notice of the stock brokers and also disseminate the same on their website.
5.
This circular is being issued in exercise of powers conferred under Section 11
(1) of the Securities and Exchange Board of India Act, 1992 to protect the
interests of investors in securities and to promote the development of, and to
regulate the securities market.
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