Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Offer for sale by directors of unlisted company

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2013 Dear Experts, please let me know is it possible for an unlisted company to go for IPO (SME Platform) and offer for sale at the same time and that too through form a single Prospectus. ???????

CA Mahavir Shah

CA Mahavir Shah (Expert)
Follow

19 April 2013 No it is not possible to go for IPO as well as OFS. Because OFS is only for selected companies meeting prescribed criteria.

Querist : Anonymous

Querist : Anonymous (Querist)

19 April 2013 Thank you very much for your reply sir,

But recently one company has listed on BSE SME platform by coming up with an IPO and offer for sale together.

and also defination of "Initial Public offer" as per ICDR regulations includes offer for sale.

It is clearly written in the offer documents filed with SEBI that the issue (for getting listed ) includes offer for sale.

Please clarify

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now