Description
BSE announces revised settlement dates for the acquisition window takeover offer of Pharmaids Pharmaceuticals Limited, extending settlement to August 25, 2025.
Summary
BSE has revised the settlement schedule for the Offer to Buy - Acquisition Window (Takeover) for Pharmaids Pharmaceuticals Limited. The takeover offer period ran from August 4-18, 2025, with revised obligation download date of August 22, 2025 and settlement date of August 25, 2025.
Key Points
- Settlement Type: Takeover (Settlement No. 2025067)
- Bid period: August 4-18, 2025 (completed)
- Revised obligation download: August 22, 2025
- Revised settlement date: August 25, 2025
- Demat shares must be delivered through Early Pay-in mechanism
- Market Type “Takeover” and settlement No. 2025035 to be used in depository system
Regulatory Changes
No new regulatory changes introduced. This circular provides revised settlement timeline following existing takeover acquisition guidelines.
Compliance Requirements
- Members/Custodians must use Early Pay-in of Shares mechanism for demat share delivery
- Must specify Market Type “Takeover” and settlement No. 2025035 in depository system
- Members should refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise stamp duty charges
- Compliance with Revised Guidelines for acquisition of shares through Stock Exchange (Notice No. 20200528-32)
Important Dates
- August 22, 2025: Revised Obligation Download Date
- August 25, 2025: Revised Settlement Date
- Original takeover offer period: August 4-18, 2025 (completed)
Impact Assessment
Limited impact as this affects only participants in the specific Pharmaids Pharmaceuticals takeover offer. The revision provides additional time for settlement obligations, ensuring proper completion of the acquisition process. No broader market implications expected.
Impact Justification
Settlement schedule revision affects specific takeover participants but has limited broader market impact