Description

BSE announces settlement calendar for takeover acquisition window for Bhairav Enterprises Limited from October 9-24, 2025, with settlement on November 11, 2025.

Summary

BSE has issued the settlement calendar for the Offer to Buy through Acquisition Window (Takeover) for BHAIRAV ENTERPRISES LIMITED. The bidding window will remain open from October 9, 2025 to October 24, 2025, with obligation download on November 7, 2025 and final settlement on November 11, 2025. The settlement has been assigned number 2025095.

Key Points

  • Settlement Type: Takeover (Settlement No. 2025095)
  • Bidding Period: October 9, 2025 to October 24, 2025
  • Obligation Download Date: November 7, 2025
  • Settlement Date: November 11, 2025
  • Demat shares must be delivered through Early Pay-in of Shares mechanism available in both depositories
  • Market Type “(Takeover)” and settlement number 2025095 must be used in depository systems
  • Members must refer to Notice No.20200528-32 dated May 28, 2020 for revised acquisition guidelines
  • Early pay-in securities will be earmarked/blocked in client accounts automatically
  • No EPN file upload required by members and custodians

Regulatory Changes

No new regulatory changes introduced. This circular implements existing takeover regulations through BSE’s Offer to Buy platform for acquisition window transactions.

Compliance Requirements

  • Members/Custodians: Must deliver demat shares only through Early Pay-in of Shares mechanism
  • Members/Custodians: Must use Market Type “(Takeover)” and settlement number 2025095 in depository system
  • Participants: Must ensure early pay-in effect is reflected in BSE/ICCL systems before prescribed timelines for bid acceptance/confirmation
  • Participants: Must complete early pay-in process sufficiently in advance before BSE OTB Bidding window closure
  • Members: Must refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise stamp duty charges
  • CDSL & NSDL: Securities will be automatically earmarked/blocked in client accounts with requisite market type and settlement number

Important Dates

  • October 9, 2025: Bid start date
  • October 24, 2025: Bid end date
  • November 7, 2025: Obligation download date
  • November 11, 2025: Settlement date

Impact Assessment

This circular has limited market-wide impact as it relates to a specific takeover transaction for Bhairav Enterprises Limited. Impact is confined to:

  • Shareholders of Bhairav Enterprises Limited who wish to participate in the acquisition offer
  • Trading members and custodians facilitating the takeover transactions
  • No impact on regular market trading operations
  • Standard settlement procedures apply with no changes to existing takeover framework

For assistance, participants can contact ICCL Help Desk at 022-69158590/45720490/45720690 or iccl.helpdesk@icclindia.com.

Impact Justification

Company-specific takeover settlement schedule with limited broader market impact, affecting only participants involved in this specific acquisition