Offer for Sale by promoters: exchange window enabling transparent promoter dilution with upfront cash collection and T+2 settlement. SEBI establishes a stock-exchange based offer for sale mechanism permitting promoters to dilute holdings via a dedicated intra-day window on designated exchanges. Sellers must meet eligibility and lock-out conditions; offers require prior announcement of exchange, timing, allocation methodology, quantity, brokers, and floor price procedures. Operationally, the offer runs for one trading day with a separate window, limit orders only, real-time indicative price dissemination, 100% upfront cash collection for buy orders, pre-payin of offered shares by sellers, reserved allocation for certain institutional bidders, and trade-for-trade settlement completed by T+2.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Offer for Sale by promoters: exchange window enabling transparent promoter dilution with upfront cash collection and T+2 settlement.
SEBI establishes a stock-exchange based offer for sale mechanism permitting promoters to dilute holdings via a dedicated intra-day window on designated exchanges. Sellers must meet eligibility and lock-out conditions; offers require prior announcement of exchange, timing, allocation methodology, quantity, brokers, and floor price procedures. Operationally, the offer runs for one trading day with a separate window, limit orders only, real-time indicative price dissemination, 100% upfront cash collection for buy orders, pre-payin of offered shares by sellers, reserved allocation for certain institutional bidders, and trade-for-trade settlement completed by T+2.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
