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BFS60
14 June, 2013
Weekly
th
Currency:
Appreciation/Depreciation
India
China
Philippines
Mexico
Nigeria and Egypt
69
60
24
23
21
The remittances to emerging countries have quadrupled since 2000, and we seem
to be leading the pack!
Term of the Week
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Unlike IPOs/FPOs, no physical application forms are issued to apply for shares in the OFS
process. OFS process is completely electronic.
While IPOs/FPOs remain open for 3-4 days, OFS gets over in a single trading day as the
markets close for trading at 3:30 p.m.
Under IPOs/FPOs, there is a price band in which the investors need to bid for the shares or
simply give their consent to buy the shares at the cut-off price. With OFS, there is only a
floor price. This is the minimum price for bidding.
Because of its efficiency both in terms of cost and time, OFS is garnering a lot of interest as an
effective tool to raise money.
SEBI has given the deadline of August 8, 2013 to public sector companies to comply with
minimum public shareholding requirements (10% for PSUs).
MMTC has already announced its offer for sale. It will be interesting to see how many of them
dilute stake via OFS.
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