Indian stake sales get leg up from Sebi OFS rejig

By John Loh
18 Feb 2016

In a boost for share sales in Indian state-owned firms, the country’s securities regulator has refined the rules for offer for sale (OFS), reducing the risks that have plagued such sell-downs in the past. Market participants lauded the move, but with stock prices still shaky, deal volumes are unlikely to rise quickly, writes John Loh.

Under the existing system, listed companies must give two banking days' notice before they conduct an OFS — a mechanism typically used by the Indian government to hive off its holdings in state firms.

But on Monday, the Securities and Exchange Board of India (Sebi) said it had

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