Description

BSE announces settlement calendar for Fortis Healthcare Limited takeover acquisition window from October 20, 2025 to November 4, 2025 with settlement on November 19, 2025.

Summary

BSE has issued the settlement calendar for the Offer to Buy – Acquisition Window (Takeover) for FORTIS HEALTHCARE LIMITED. The takeover bidding window will operate from October 20, 2025 to November 4, 2025, with obligation download on November 18, 2025 and final settlement on November 19, 2025. The settlement number assigned is 2025104. All share deliveries must be made through the Early Pay-in mechanism available in both depositories (CDSL and NSDL).

Key Points

  • Settlement Number: 2025104
  • Bid Start Date: October 20, 2025
  • Bid End Date: November 4, 2025
  • Obligation Download: November 18, 2025
  • Final Settlement Date: November 19, 2025
  • Market Type designation: “(Takeover)”
  • Mandatory use of Early Pay-in of Shares mechanism through depositories
  • Securities will be earmarked/blocked in client accounts with requisite market type and settlement number
  • No EPN file upload required by Members & Custodians
  • Members should refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise stamp duty charges

Regulatory Changes

No new regulatory changes introduced. This circular implements the existing Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange as referenced in Notice No.20200528-32 dated May 28, 2020.

Compliance Requirements

  • Members/Custodians: Must deliver demat shares only through Early Pay-in mechanism in depository systems
  • Members/Custodians: Must use Market Type “(Takeover)” and settlement No. 2025104 in depository system
  • Participants: Must ensure early pay-in effect is reflected in BSE/ICCL systems before prescribed timelines for accepting/confirming bids
  • Participants: Must complete early pay-in process sufficiently in advance before BSE OTB Bidding window closure and Custodian confirmation window closure
  • Members: Should refer to MBRSTD_OTB_CM_mmm_SettNo file for stamp duty charges
  • CDSL & NSDL: Early pay-in securities will be automatically earmarked/blocked in client accounts

Important Dates

  • October 16, 2025: Circular issue date
  • October 20, 2025: Bid Start Date (acquisition window opens)
  • November 4, 2025: Bid End Date (acquisition window closes)
  • November 18, 2025: Obligation Download Date
  • November 19, 2025: Settlement Date

Impact Assessment

Market Impact: Medium - This affects only shareholders of Fortis Healthcare Limited who wish to participate in the takeover offer. Not a market-wide event.

Operational Impact: Medium - Members and Custodians handling Fortis Healthcare shares must ensure compliance with early pay-in requirements and timing deadlines. Automated earmarking in depository systems reduces manual intervention.

Investor Impact: Medium - Shareholders of Fortis Healthcare have a defined 16-day window (October 20 - November 4) to tender shares through the acquisition window if they wish to participate in the takeover offer.

Process Requirements: The mandatory early pay-in mechanism ensures orderly settlement and reduces settlement risk. Members must coordinate timing carefully to ensure depository effects are reflected before bidding/confirmation windows close. ICCL Help Desk support is available for clarifications (contact: iccl.helpdesk@icclindia.com, Phone: 022-69158590/45720490/45720690).

Impact Justification

Routine takeover settlement schedule for Fortis Healthcare. Important for shareholders participating in the offer but not market-wide impact. Standard acquisition window process.