Description
BSE extends the open offer period for Kolte-Patil Developers Limited takeover from August 22, 2025 to September 9, 2025.
Summary
BSE has extended the opening period for the Offer to Buy (Takeover) of 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 SEBI Holiday.
Key Points
- Extension of open offer period for Kolte-Patil Developers Limited takeover
- Revised schedule provided by Manager to Issue JM Financial Ltd
- Acquisition window closes one day before the offer period ends
- SEBI Holiday affects the closure timing
- Contact details provided for Trading Members and Custodians
Regulatory Changes
No regulatory changes introduced. This is a procedural extension of an existing takeover offer timeline.
Compliance Requirements
- Trading Members and Custodians must note the revised timeline
- Participants should contact designated BSE officials for further details
- Bidding must be completed before the acquisition window closes on September 8, 2025
Important Dates
- Open Offer Period: August 22, 2025 to September 9, 2025
- Acquisition Window Closure: September 8, 2025 (Monday)
- Notice Date: September 5, 2025
- Original Notice Reference: August 18, 2025 (Notice 20250818-32)
Impact Assessment
This extension provides additional time for shareholders of Kolte-Patil Developers Limited to participate in the takeover offer. The impact is moderate as it affects the timeline of an ongoing corporate action without changing the fundamental terms of the offer. Market participants and custodians need to adjust their operational timelines accordingly.
Impact Justification
Timeline extension for ongoing takeover process affects shareholders and market participants but is procedural in nature