Description

BSE extends the open offer bidding period for Kolte-Patil Developers Limited takeover from August 22, 2025 to September 9, 2025, with acquisition window closing on September 8, 2025.

Summary

BSE has announced an extension to the opening period of the Offer to Buy (Takeover) for KOLTE-PATIL DEVELOPERS LIMITED. The revised schedule extends the open offer period from Friday, August 22, 2025, to Tuesday, September 9, 2025. The acquisition window for bidding will close on Monday, September 8, 2025, due to a SEBI Holiday on September 9, 2025. This notice updates the previous communication (notice number 20250818-32 dated August 18, 2025) and is issued by JM Financial Ltd as the Manager to Issue.

Key Points

  • Extension of open offer period for Kolte-Patil Developers Limited takeover
  • Revised schedule: August 22, 2025 to September 9, 2025
  • Acquisition window closes one day earlier on September 8, 2025
  • Closure timing adjusted due to SEBI Holiday on September 9, 2025
  • JM Financial Ltd acts as Manager to Issue
  • Trading Members and Custodians are the primary stakeholders affected

Regulatory Changes

No new regulatory changes introduced. This circular modifies the previously announced schedule for the open offer acquisition window in accordance with SEBI Holiday calendar requirements.

Compliance Requirements

  • Trading Members must note the revised schedule for the open offer period
  • Custodians must update their systems and processes to reflect the extended timeline
  • All bidding activities must be completed by September 8, 2025 (acquisition window closure)
  • Participants should contact BSE officials for clarifications: Rinkesh Gaikwad or Pinkesh Jha at listing.sales@bseindia.com

Important Dates

  • Open Offer Period Start: Friday, August 22, 2025
  • Acquisition Window Closure: Monday, September 8, 2025
  • Open Offer Period End: Tuesday, September 9, 2025
  • SEBI Holiday: September 9, 2025 (reason for early acquisition window closure)
  • Original Notice Reference: August 18, 2025 (notice number 20250818-32)
  • Current Notice Date: September 5, 2025

Impact Assessment

Market Impact: Medium - The extension provides additional time for shareholders of Kolte-Patil Developers Limited to participate in the takeover offer, potentially affecting participation rates and offer outcomes.

Operational Impact: Medium - Trading Members and Custodians need to adjust their operational schedules and inform clients about the extended timeline. The one-day gap between acquisition window closure (September 8) and offer period end (September 9) requires careful attention to avoid missing the bidding deadline.

Stakeholder Impact: Shareholders of Kolte-Patil Developers Limited have an extended window to consider and participate in the open offer. Trading Members and Custodians must communicate the revised schedule to their clients to ensure timely participation.

Impact Justification

Schedule extension for ongoing takeover offer affects trading members and custodians participating in the open offer for Kolte-Patil Developers, with specific deadlines modified due to SEBI holiday.