What is the employee category in OFS(Offer for sale) ?

What is the employee category in OFS (Offer for Sale)? 

The employee category in an offer for sale (OFS) is specifically designated for employees of the company offering the shares. This category is available for bidding on T+1 day, alongside the retail category.

Employees may select the "Employee" category while placing bids. They are also permitted to bid under other eligible categories, subject to applicable limits: 

  • Bidding under the employee category is allowed only during market hours on T+1 day (retail window).
  • Bids must be placed at the cut-off price only. The allotment price is based on the retail category’s cut-off price, after considering any applicable employee discount.
  • The maximum bid amount under the employee category is ₹500,000. However, the maximum allotment per employee is up to ₹2,00,000.
  • In case of undersubscription in the employee quota, the unsubscribed portion may be proportionately allotted to employees who have bid for more than ₹2,00,000. The maximum total allotment to any single employee will be ₹500,000.