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of <h1>SEBI Issues Guidelines for Promoters Selling Shares via Stock Exchange: Eligibility, Pricing, and Risk Management.</h1> The circular issued by SEBI outlines the guidelines for promoters to sell shares through the stock exchange mechanism, aimed at increasing transparency and wider participation. It specifies eligibility criteria for exchanges, sellers, and buyers, and defines terms such as 'Single Clearing Price' and 'Floor Price.' The offer size must be at least 1% of the company's paid-up capital, with specific advertisement and operational requirements. Risk management measures include upfront cash collection for orders, and a minimum of 25% of shares reserved for mutual funds and insurance companies. Settlement follows a trade-for-trade basis, and offers can be withdrawn or canceled under certain conditions.
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