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Sunday, December 11, 2016

An Offer for Sale (OFS) is a form of share sale. OFS mechanism facilitates the promoters of an already listed company to sell or dilute their existing shareholdings through an exchange based bidding platform to meet the minimum public shareholding requirements

Declaration of allotment of shares basis bids received in case of an OFS is different as against allotment status in case of an IPO. In case of an IPO, allotment status is generally declared after 7-10 working days from the date of closure of the IPO.

However, in case of an OFS, since the offer is generally open only for a day or two, the allotment status is also declared sooner. Stock Exchanges share allotment report with Trading Members at the end of the day i.e. after 6:00 P.M. on the day of OFS. Investor can get the information from their trading members on the same day. Hence, to check allotment status of an OFS, investor needs to get in touch with the respective broker firm where he/she has opened demat / trading account. 

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