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Offer for sale by directors of unlisted company

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Querist : Anonymous

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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. ???????
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CA Mahavir Shah

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CA Mahavir Shah (Expert)
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.
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Querist : Anonymous

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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
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