Sebi allows promoters to offer shares to staff via stock exchange mechanism in OFS

The Securities and Exchange Board of India has decided on a new system that will be in addition to the existing one with respect to OFS for companies’ employees. Under the new system, OFS to employees would be on T+1 day along with the retail category under a new category ‘Employee’. According to Sebi, for employee OFS, a certain number of shares should be reserved for the staff and the same should be mentioned in the OFS notice to the stock exchanges by the promoters.

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