SEBI vide circular dated June 14, 2024 has revised the Framework for Offer for Sale (OFS)of Shares to Employees through Stock Exchange Mechanism. The new framework provides that OFS to employees shall be on T+1 day along with the retail category under a new category called as “Employee”
Employees shall place bids only at cut-off price of T+1day. The allotment price shall be based on the Cut-off of the retail category, subject to discount, if any.
The provisions of this circular shall come into effect from 30th day of issuance of this circular.
