Dear Sir \ Madam
The Securities and Exchange Board of India (SEBI) has issued circular No. SEBI/HO/MRD/MRD-PoD-3/P/CIR/2024/82 dated June 14, 2024, regarding modification in Framework for Offer for Sale (OFS) of Shares to Employees through Stock Exchange Mechanism.
Paragraph 5 of SEBI Circular dated January 23, 2024, prescribed the procedure for offering of shares to the employees in OFS through stock exchanges.
It has been decided that employees shall place bids on T+1 day at cut-off price of T Day. Accordingly, paragraph 5(vi) of SEBI Circular dated January 23, 2024, has been modified. All other provisions of the aforesaid circulars shall remain unchanged.
The provisions of this circular shall come into effect from 30th day of issuance of this circular
The aforesaid circular is attached for reference.
All Listed companies are requested to take note and comply accordingly.
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Manu Thomas
Addl. GM-Listing Compliance
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Shyam Bhagirath
Manager-Listing Compliance
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