Sebi has released the framework for non-promoter shareholders to sell their stake through the offer-for-sale (OFS) route. Earlier only non-promoters with 10% shareholding and above were allowed to access the OFS route; in September 2021, Sebi had removed this minimum-shareholding requirement. Through an OFS, a shareholder can sell their shares faster with fewer compliance requirements than FPOs' requirements and can offer bigger discounts than block deals to retail investors. Also, retail offer amounts for OFS are 100% hedged by cash or cash-equivalent margins. The regulator had introduced the OFS mechanism about ten years ago, to make it easier for promoters to reduce their holding to keep in line with the minimum public-shareholding requirement.