Trading Rules
Market timings
The duration of the offer for sale shall be as per the trading hours of the secondary market and shall not exceed one trading day.
The placing of orders on the exchange system shall take place only during trading hours.
Order Placements
Buyers: - All investors registered with the brokers of the aforementioned stock exchanges other than the promoter(s)/ promoter group entities.
No price bands shall be applicable for the orders/ bids placed in the offer for sale.
Only limit orders/ bids shall be permitted.
Multiple orders from a single buyer shall be permitted.
In case floor price is disclosed, orders/ bids below floor price shall not be accepted.
In case of shares under offer for sale, the trading in the normal market shall also continue. However, in case of market closure due to the incidence of breach of ‘Market wide index based circuit filter’, the offer for sale shall be halted.
(i) A separate window for the purpose of sale of shares through OFS shall be created. The following orders shall be valid in the OFS window:
A. Orders with 100% of margin paid upfront by institutional investors and non-institutional investors. Such orders can be modified or canceled at any time during the trading hours.
B. Orders without paying upfront margin by institutional investors only. Such orders cannot be modified or cancelled by the investors or stock brokers, except for making upward revision in the price or quantity.
Cumulative bid quantity shall be made available online to the market throughout the trading session at specific intervals in respect of orders with 100% upfront margin and separately in respect of orders placed without any upfront margin.
Indicative price is the volume weighted average price of all the valid bids. Indicative price shall be disclosed to market throughout the trading session. The indicative price shall be calculated based on all valid bids/orders.