Do we need to pay short term capital gains on selling Power grid FPO stocks ?

Dear friends

One of my friend invested in Power grid FPO and he was allotted about 200 shares @ 85.5/- on 17.12.2013. Can he now sell in market (current market price is 99/-).

Any short term capital tax need to be paid to Power grid team. Actually, my friend is a non-tax payee person with very less annual income.

thanks in advance.

regards, Jhaji