Offer for Sale (OFS) is an electronic platform based mechanism to help promoters of listed companies dilute their stake. The bidders include individuals, companies, qualified institutional buyers and foreign institutional investors. The facility is available on the BSE and NSE. Non-promoters holding at least 10% stake can also sell shares through this route. The minimum offer size is Rs 25 crore. There is no need to fill the application form and the shares are allotted on a T+1 basis, that is, one day after the order is placed. In case of no allotment, the money is refunded the same day.