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Demat Accounts a Must to Invest in An OFS

 
 

The government has mostly sold shares in its companies through offer for sales (OFS) in the past couple of years.But retail investors have given most of these share issuances a skip despite getting a chance to buy fundamentally-strong companies at a discount partly because of lack of awareness. On Friday , the government will offer shares of Coal India to the public at a discount through an OFS, which analysts believe is a good opportunity for retail investors to subscribe. 

WHO CAN INVEST IN THE COAL INDIA OFS?

Investors, who have a broking and demat account with a registered stock broker, are eligible to apply. Unlike initial public offerings (IPOs), where there is time to open demat and broking account, demat accounts are a prerequisite in an OFS as the issue is open for just a day.

HOW CAN A RETAIL INVESTOR INVEST?

An investor who wishes to apply for the Coal India OFS can place a request with his stock broker. The broker will punch in the order in the OFS order entry screen, with the exchange. But the key aspect is investors have to pay full money upfront before applying. They can do that by making an NEFT transfer to the stock broker's account. Once the broker has proof of payment made, he will place your order.

ANY DISCOUNT FOR RETAIL INVESTORS?

Retail investors who invest up to `2 lakh are eligible for a 5% discount to the OFS cut-off price.

WHEN WILL THE SHARES BE ALLOTTED?

By end of the day, the exchange authority will release data on investors who have been allotted shares in the issue. The allotted shares will reach the investors' demat account in a day, post which he can trade in those shares

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