Description

Settlement calendar for the Offer to Buy – Acquisition Window (Takeover) of FORTIS MALAR HOSPITALS LIMITED, with bidding period from October 20, 2025 to November 4, 2025.

Summary

BSE has announced the settlement calendar for the Offer to Buy – Acquisition Window (Takeover) of FORTIS MALAR HOSPITALS LIMITED. The acquisition window will be open from October 20, 2025 to November 4, 2025, with settlement scheduled for November 19, 2025. This circular provides detailed timelines and procedural requirements for members and custodians participating in the takeover process.

Key Points

  • Settlement Number: 2025105
  • Bid Start Date: October 20, 2025
  • Bid End Date: November 4, 2025
  • Obligation Download: November 18, 2025
  • Settlement Date: November 19, 2025
  • Demat shares must be delivered only through Early Pay-in of Shares mechanism available in both depositories
  • Market Type designation: “Takeover” with settlement number 2025105
  • Members must refer to Notice No.20200528-32 dated May 28, 2020 regarding revised guidelines for acquisition of shares through Stock Exchange

Regulatory Changes

No new regulatory changes. This circular implements existing acquisition framework as per the Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange.

Compliance Requirements

  • Members/Custodians: Must ensure early pay-in of securities is reflected in BSE/ICCL systems before prescribed timelines for accepting/confirming bids on BSE OTB platform
  • Early Pay-in Processing: Must be completed sufficiently in advance before closure of BSE OTB Bidding window for placing bids by members and confirmation window for custodians
  • CDSL & NSDL: Early pay-in securities will be earmarked/blocked in clients’ accounts with requisite market type and settlement number
  • EPN File: Members and Custodians are NOT required to upload any EPN file
  • Stamp Duty: Members must refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise Stamp Duty charges
  • Contact for Clarifications: ICCL Help Desk (022-69158590/45720490/45720690 or iccl.helpdesk@icclindia.com)

Important Dates

  • October 20, 2025: Bid Start Date
  • November 4, 2025: Bid End Date
  • November 18, 2025: Obligation Download
  • November 19, 2025: Settlement Date

Impact Assessment

Operational Impact: Medium - This takeover process requires coordination between members, custodians, depositories (CDSL and NSDL), and BSE systems. Members must ensure timely early pay-in of securities to meet bidding deadlines.

Market Impact: Medium - Limited to shareholders of FORTIS MALAR HOSPITALS LIMITED who wish to participate in the acquisition offer. The structured timeline provides clarity for all participants.

Stakeholder Impact: Shareholders of FORTIS MALAR HOSPITALS LIMITED have a 16-day window to tender their shares through the acquisition window. Members and custodians must follow specific procedural requirements for early pay-in and bid confirmation.

Impact Justification

Standard takeover procedure for a specific company with defined settlement timeline. Impacts shareholders of FORTIS MALAR HOSPITALS LIMITED and participating members/custodians.