Description

BSE revises the settlement schedule for the acquisition window takeover of Bhairav Enterprises Limited, with new obligation download date of 07/11/2025 and settlement date of 10/11/2025.

Summary

BSE has issued a revised settlement schedule for the Offer to Buy – Acquisition Window (Takeover) of Bhairav Enterprises Limited. This revision updates the settlement calendar referenced in Notice No. 20251008-4. The bid period runs from 09/10/2025 to 24/10/2025, with the revised obligation download date set for 07/11/2025 and the revised settlement date for 10/11/2025. Settlement number 2025095 has been assigned to this takeover.

Key Points

  • Settlement Type: Takeover (Settlement No. 2025095)
  • Bid Period: 09/10/2025 to 24/10/2025
  • Revised Obligation Download Date: 07/11/2025
  • Revised Settlement Date: 10/11/2025
  • Company: Bhairav Enterprises Limited
  • Demat shares must be delivered through Early Pay-in of Shares mechanism available in both depositories
  • Members/Custodians must use Market Type “(Takeover)” and Settlement No. 2025095 in depository systems
  • Client-wise Stamp Duty charges available in MBRSTD_OTB_CM_mmm_SettNo file

Regulatory Changes

No new regulatory changes introduced. This circular revises previously announced settlement dates for an ongoing takeover process.

Compliance Requirements

  • Members and Custodians must deliver demat shares only through the Early Pay-in of Shares mechanism
  • Must specify Market Type “(Takeover)” and Settlement No. 2025095 when submitting shares through depository system
  • Members should refer to Notice No. 20200528-32 dated May 28, 2020 for guidelines on mechanism for acquisition of shares through Stock Exchange
  • Members must refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise Stamp Duty charges
  • All participants must adhere to the revised settlement timeline

Important Dates

  • Notice Date: 09/10/2025
  • Bid Start Date: 09/10/2025
  • Bid End Date: 24/10/2025
  • Revised Obligation Download Date: 07/11/2025
  • Revised Settlement Date: 10/11/2025

Impact Assessment

This revision primarily impacts members and custodians participating in the acquisition of Bhairav Enterprises Limited shares through the takeover offer. The three-day extension of the settlement date (from the previously announced schedule in Notice No. 20251008-4) provides additional time for obligation processing and settlement completion. Market participants holding or dealing with Bhairav Enterprises Limited shares during the bid period must ensure compliance with the Early Pay-in mechanism and proper use of settlement identifiers. The impact is operationally significant for direct participants but has limited broader market implications as it applies to a single company’s takeover process.

Impact Justification

Revised settlement dates for a specific takeover offer affecting members and custodians dealing with Bhairav Enterprises Limited shares; operational impact limited to participants in this acquisition window.