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<h1>SEBI Expands Offer for Sale Framework: Non-Promoter Shareholders and Retail Investors Get New Opportunities in Top 200 Companies.</h1> The Securities and Exchange Board of India (SEBI) has expanded the Offer for Sale (OFS) framework to encourage retail participation and allow non-promoter shareholders with at least 10% shareholding to use the OFS mechanism. The framework applies to the top 200 companies by market capitalization. A minimum of 10% of the offer size is reserved for retail investors, defined as those bidding for shares worth up to Rs. 2 lakhs. Sellers must announce sale intentions by 5 pm on T-2 day, and any floor price by 5 pm on T-1 day. Discounts for retail investors may be offered, potentially below the floor price. Stock exchanges must implement these changes within three weeks.