Corporate Announcement
Security Code : 532371    Company : TTML    
 
Proposed offer for sale of shares 
  Exchange Disseminated Time     
Tata Teleservices (Maharashtra) Ltd has informed BSE that the Company, had sought relaxation from certain condition applicable to offer for sale of shares by promoters through the stock exchange mechanism, pursuant to paragraph 3 of the circular dated August 29, 2012 issued by SEBI. In response to the Company's letter, SEBI has, by its letter dated May 03, 2013 (the "Letter"), allowed the following relaxations/ permissions to the Company to achieve the minimum level of public shareholding:

Offer for sale by promoters through the stock exchange mechanism:

1. The maximum allocation limit of 25% of the size of the offer for sale to a single investor has been relaxed;

2. The Company has been permitted to undertake two successive offers with a gap of minimum three days; and

3. The restriction with respect to twelve week cool off period has been relaxed.

Sale on the floor of the stock exchange:

The promoter/promoter group of the Company is allowed to sell the shares of the Company up to 1% of the total paid-up share capital of the Company on the floor of the stock exchange subject to certain conditions prescribed in the Letter.
 

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