https://www.taxtmi.com/highlights?id=78540 SEBI issued a circular modifying the framework for Offer for Sale (OFS) of shares to employees through stock exchange mechanism. Employees will now place bids at the cut-off price of T day instead of T+1 day as previously prescribed. The allotment price will be based on the cut-off of the T day. All other provisions of previous circulars remain unchanged. The circular will be effective 30 days from issuance. Market Infrastructure Institutions (MIIs) are instructed to implement necessary systems, amend bye-laws, and inform market participants. The circular is u/s 11(1) of SEBI Act 1992 and related regulations to safeguard investor interests and regulate the securities market. en-us Sat, 15 Jun 2024 19:22:39 +0530 Sat, 15 Jun 2024 19:22:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=78540 SEBI issued a circular modifying the framework for Offer for Sale (OFS) of shares to employees through stock exchange mechanism. Employees will now place bids at the cut-off price of T day instead of T+1 day as previously prescribed. The allotment price will be based on the cut-off of the T day. All other provisions of previous circulars remain unchanged. The circular will be effective 30 days from issuance. Market Infrastructure Institutions (MIIs) are instructed to implement necessary systems, amend bye-laws, and inform market participants. The circular is u/s 11(1) of SEBI Act 1992 and related regulations to safeguard investor interests and regulate the securities market. Highlights SEBI Sat, 15 Jun 2024 19:22:39 +0530 https://www.taxtmi.com/highlights?id=78540