Description
Schedule of activities for the Offer to Buy – Acquisition Window (Takeover) of GRAND FOUNDRY LTD shares from November 3-17, 2025 at Rs. 2.00 per share for up to 79,11,800 equity shares.
Summary
BSE announces the schedule for Offer to Buy – Acquisition Window (Takeover) of GRAND FOUNDRY LTD (GFSTEELS) shares. The offer opens on November 3, 2025 and closes on November 17, 2025. The acquirer offers to purchase up to 79,11,800 equity shares at Rs. 2.00 per share (face value Rs. 4.00). Trading members and custodian members can participate through iBBS and RTRMS platforms during specified session timings.
Key Points
- Security: GRAND FOUNDRY LTD (Symbol: GFSTEELS, ISIN: INE534A01028, Scrip Code: 513343)
- Offer Size: Up to 79,11,800 equity shares
- Offer Price: Rs. 2.00 per share (Face Value: Rs. 4.00, Market Lot: 1)
- Offer Period: November 3-17, 2025
- Bid Offering Period: 9:15 AM to 3:30 PM (Nov 3-17, 2025)
- Give-up/Take-up: 9:15 AM to 3:30 PM (Nov 3-14, 2025)
- Last Day Give-up: 9:15 AM to 3:30 PM (Nov 17, 2025)
- Last Day Take-up: 9:15 AM to 4:00 PM (Nov 17, 2025)
- Investor Categories: FII, FI, MF, IC, OTH, NOH, CO, IND
Regulatory Changes
No regulatory changes introduced. This circular implements existing OTB framework as per Exchange Notices No. 20150930-1 (September 30, 2015) and 20170203-29 (February 3, 2017).
Compliance Requirements
- Trading members must ensure investor UCC is registered/updated with correct PAN number and category in Exchange UCC database
- Trading members can only bid for investors holding shares in demat form
- Members must use specified platforms: iBBS (https://ibbs.bseindia.com/ or https://ibbsll.bseindia.com/) and RTRMS (https://rtrms.bseindia.com/ or https://rtrmsll.bseindia.com/)
- Access Extranet (https://member.bseindia.com/ or https://memberll.bseindia.com/) for bid acceptance files after issue closure
- No End of Issue files will be generated if no securities are accepted
- For Leased Line URL access settings, refer to Exchange Circular No. 20170503-12
Important Dates
- Opening Date: Monday, November 3, 2025
- Closing Date: Monday, November 17, 2025
- Bid Offering Period: November 3-17, 2025 (9:15 AM - 3:30 PM)
- Give-up/Take-up Period: November 3-14, 2025 (9:15 AM - 3:30 PM)
- Last Day Give-up: November 17, 2025 (9:15 AM - 3:30 PM)
- Last Day Take-up: November 17, 2025 (9:15 AM - 4:00 PM)
- Circular Issue Date: October 30, 2025
Impact Assessment
Market Impact: Low - This takeover offer affects only GRAND FOUNDRY LTD shareholders. The offer price of Rs. 2.00 per share (50% of face value of Rs. 4.00) suggests a distressed asset or small-cap company with limited market capitalization impact.
Operational Impact: Medium for participating members - Trading members and custodians need to ensure proper UCC registration, platform access (iBBS, RTRMS, Extranet), and coordinate with clients holding GFSTEELS shares in demat form during the 15-day offer window.
Investor Impact: High for GFSTEELS shareholders - This represents a potential exit opportunity for shareholders to tender their shares during the acquisition window at the specified offer price.
Contact Points: Multiple contact persons provided for technical support (Trading Operations: 022-22728005, user.trdops@bseindia.com) and specific system support for iBBS, RTRMS, and Extranet access issues.
Impact Justification
Medium importance as it involves a takeover offer process requiring member participation. Low impact as it affects only GRAND FOUNDRY LTD shareholders and involves a small-cap stock with limited market-wide implications.