BSE Ltd.

02/23/2024 | Press release | Distributed by Public on 02/23/2024 08:10

Mock Testing Session on UAT Environment for Offer for Sale (OFS)

NOTICES
Notice No. 20240223-45 Notice Date 23 Feb 2024
Category Trading Segment Equity
Subject Mock Testing Session on UAT Environment for Offer for Sale (OFS)
Attachments Annexure I.pdf ;
Content

Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued a circular no. SEBI/HO/MRD/MRD-PoD-3/P/CIR/2024/6 dated January 23, 2024, regarding "Framework for Offer for Sale (OFS) of Shares to Employees through Stock Exchange Mechanism". The provisions of aforesaid circular shall come into effect from 30th day of issuance of the circular.<_o3a_p>

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The procedure for offering shares to the employees in OFS through Stock Exchanges is as under:<_o3a_p>

  1. OFS to Employees shall be on T+1 day along with the retail category under a new category called as "Employee".<_o3a_p>
  2. While bidding, the employee shall select "Employee" category for employee bids. However, the employees can also bid for other categories, as per the applicable limits.<_o3a_p>
  3. For employee OFS, certain number of shares shall be reserved for the employees. The same shall be mentioned in the OFS notice to the stock exchanges by the promoter(s).<_o3a_p>
  4. Bidding shall be allowed during trading hours on T+1 day only.<_o3a_p>
  5. Floor price of the retail category shall be disclosed to the participants under the "Employee" category.<_o3a_p>
  6. Employees shall place bids only at cut-off price of T+1 day. <_o3a_p>
  7. The allotment price shall be based on the Cut-off of the retail category, subject to discount, if any.<_o3a_p>
  8. The maximum bid amount shall be INR 5,00,000.<_o3a_p>
  9. Each employee is eligible for allotment of equity shares up to INR 2,00,000. Provided that in the event of under-subscription in the employee portion, the unsubscribed portion may be allotted to such employees whose bid amount is more than INR 2,00,000, on a proportionate basis, for a value in excess of INR 2,00,000, subject to the total allotment to an employee not exceeding INR 5,00,000.<_o3a_p>
  10. The employees shall pay upfront the margin to the extent of 100% of the order value in cash or cash equivalents.<_o3a_p>
  11. Bids for "Employee" category shall not be displayed on the stock exchange website.<_o3a_p>
  12. Allotment under the "Employee" category shall be based on the PAN details of employees shared by the company on T-1 day. The PAN mis-matched bids shall be rejected.<_o3a_p>

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The Exchange has also issued the revised detailed Operational Guidelines for participation in Offer for Sale (OFS) Segment at BSE vide its notice no. 20240221-47 dated Feb 21, 2024. The URL for the same is as under:<_o3a_p>

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https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20240221-47<_o3a_p>

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The Exchange has made the necessary changes/ development in the OFS module ofiBBS platform (internet-based book building software of BSE) as under: <_o3a_p>

  1. A new category for Employee - "EMP" is unable for bidding.<_o3a_p>
  2. Bids under Employee Category shall be based on the PAN details of employees shared by the Company. The PAN mismatched bids shall be rejected.<_o3a_p>
  3. Bidding for Employee Category shall be available only on T+1 day (T being the first day of bidding for Non-retail Category) along with Retail Category.<_o3a_p>
  4. Employees can bid only at Cut-off price.<_o3a_p>
  5. Floor price of Retail Category shall be Cut off price for Employee Category.<_o3a_p>
  6. The maximum bid amount for Employee category shall be Rs.5,00,000/- (Five Lacs) only.<_o3a_p>
  7. Employees can place bid multiple times. However, if cumulative value of bids within Exchange/ across Exchanges greater than Rs. 5 Lacs, all such Employee bids shall be rejected and will not be considered for allocation.<_o3a_p>
  8. Where the allocation price derived after discount (if any) for Employee category is higher than the floor price, in such cases the Employees will be required to deposit the difference amount/ margin with Trading Member.<_o3a_p>

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The mock sessions are scheduled from Tuesday Feb 27, 2024, to Wednesday Feb 28, 2024, on UAT Server to familiarizes Trading Members about the Employee Category bidding.<_o3a_p>

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The Issue Parameter for mock sessions is attached herewith for information as Annexure I.<_o3a_p>

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Trading Members are advised to take note and actively participate in the mock sessions.<_o3a_p>

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IBBS UAT Server Accessibility<_o3a_p>

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Url for accessing iBBS module<_o3a_p>

Internet: https://uat.bseindia.in/asba<_o3a_p>

Leaseline Connection details<_o3a_p>

IP: 10.1.101.8 <_o3a_p>

Port: 2000<_o3a_p>

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For resetting of the password of the IBBS Module, please contact Trading Operationson the following:<_o3a_p>

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Trading Operations<_o3a_p>

[email protected]<_o3a_p>

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Mock Trading Session Feedback<_o3a_p>

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To be able to provide a robust & efficient system with better features, feedback from intermediaries is very important. We request all intermediaries to give their feedback of the mock session to ibbs ops/ listing sales teams on the email ids provided below:<_o3a_p>

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Activities<_o3a_p>

Email ID<_o3a_p>

Regulations & Business Rules<_o3a_p>

[email protected]<_o3a_p>

Functionality of IBBS<_o3a_p>

[email protected]<_o3a_p>

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Sandeep Pujari Rinkesh Gaikwad<_o3a_p>

DGM - Trading Operations AM - Listing Business Relationship<_o3a_p>

February 23, 2024<_o3a_p>