Ref. LIST/COMP/36/2020-21
Securities and Exchange Board of India (SEBI) has issued circular No SEBI/HO/ISD/ISD/CIR/P/2020/133 dated July 23, 2020, regarding allowing Offer for Sale (OFS) and Rights Entitlements (RE) transactions during trading window closure period.
Vide Gazette Notification No. SEBI/LAD-NRO/GN/2020/23 dated July 17, 2020, Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 (PIT Regulations) have been further amended.
Clause 4 (3) (b) of Schedule B read with Regulation 9 of PIT Regulations, inter-alia, states that trading window restrictions shall not apply in respect of transactions mentioned therein or transactions undertaken through such other mechanism as may be specified by the Board from time to time.
It has been decided that in addition to the transactions mentioned in Clause 4 (3) (b) of Schedule B read with Regulation 9 of PIT Regulations, trading window restrictions shall not apply in respect of OFS and RE transactions carried out in accordance with the framework specified by the Board from time to time.
This circular shall come into force with immediate effect.
The aforesaid circular is attached for reference.
Listed Companies are requested to take note and comply accordingly.
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Abhijit Pai
Dy. General Manager
Listing Compliance
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Shyam Bhagirath
Manager
Listing Compliance
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July 24, 2020
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