Firms raise Rs 39,000 cr via offer for sale route
The companies that have tapped the OFS route this year include public sector giants like NTPC and Oil India, both of which managed to elicit impressive investor interest.
Among these companies, the largest was the Rs 12,666-crore issue by energy company ONGC in March, 2012.
The OFS method allows companies to sell shares in the stock market through a one-day auction process.
It was introduced by Sebi early last year to help companies meet minimum public shareholding limits. Sebi created two new routes, Institutional Placement Programme (IPP) and OFS.
So far, only two companies have opted for IPPs.
Firms that tapped OFS last year include Wipro, Adani Power, Jaiprakash Power Ventures, DB Corp, Muthoot Cap, Sical Logistics, Reliance Power, NMDC, Hindustan Copper, Pioneer Distilleries and Eros International.
Among these, all issues were fully-subscribed, except Wipro and Pioneer Distilleries.