As per decision taken by SEBI on 3rd January 2012 it has issued detailed guidelines for offer of sale of shares by promoters through a separate Window by the stock exchange mechanism. Any offer for sale of shares by any promoters of any listed Company with the intend to comply the minimum public holding requirement has to be henceforth in compliance of these new guidelines .Only BSE and NSE are authorized to provide this facility . Promoters must not have purchased any shares during 12 weeks before the start of this scheme. Size has to be minimum 1% of the paid up capital of the Company / 25 crores. 100% payment has to be collected at the time of order placement .25% of the offer has to be reserved for Mutual Fund / Insurance Company.
Let us see how the Private and Public sector Companies are taking this facility. Now all those Companies who are not complying this minimum holding guidelines will have no more excuse of non compliance. This windoe may help the PSU to disinvest some part of the Govt holding and Govt may get some money in Feb/ March to reduce fiscal deficit
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