Description

Schedule of activities for Offer for Sale of 2,46,977 shares of IRONWOOD EDUCATION LIMITED on November 4th and 6th, 2025 with detailed bidding timelines and investor categories.

Summary

BSE announces the Offer for Sale (OFS) schedule for IRONWOOD EDUCATION LIMITED (Security Code: 508918, ISIN: INE791H01011) with bidding scheduled for November 4th, 2025 (T Day) for institutional and non-institutional investors, and November 6th, 2025 (T+1 Day) for retail investors and unallocated bidders from T Day. Total offer size is 2,46,977 shares with 10% reserved for retail investors.

Key Points

  • Total Offer Size: 2,46,977 shares
  • Retail Offer Size: 24,698 shares (10% reservation)
  • Non-Retail Offer Size: 2,22,279 shares
  • Floor Price: Rs. 39.00 per share
  • Face Value: Rs. 10 per share
  • Market Lot: 1 share
  • Tick Size: Rs. 0.01
  • Allocation Method: Proportionate
  • T Day Bidding: November 4th, 2025 for IC/MF/OTH/NII categories
  • T+1 Day Bidding: November 6th, 2025 for RI/RIC categories and carried forward bids
  • Bid Entry Timings: 9:15 AM to 3:30 PM on both days
  • Give up/Take up Window: Until 7:30 AM on T+1 and T+2 days

Regulatory Changes

No regulatory changes introduced. This circular provides operational details for an upcoming OFS event following existing OFS framework and procedures.

Compliance Requirements

  • Trading Members and Custodian Members must note the OFS schedule and facilitate client participation
  • Retail Investors (bid value up to Rs. 2 lakhs) must provide 100% upfront margin in cash and cash equivalents
  • Non-Retail Investors must provide 100% upfront margin in cash
  • Institutional Investors can bid with either 100% upfront margin or 0% margin (with subsequent settlement obligations)
  • Multiple bidding is allowed across categories
  • Retail investors bidding in NII category are not eligible for seller discounts
  • If cumulative retail investor bids exceed Rs. 2 lakhs across exchanges, RI/RIC category bids become ineligible

Important Dates

  • November 4th, 2025 (T Day): Bid entry, modification, and cancellation for IC/MF/OTH/NII categories (9:15 AM - 3:30 PM)
  • November 6th, 2025 (T+1 Day):
    • Give up/Take up for institutional 0% margin bids (until 7:30 AM)
    • Bid entry, modification, and cancellation for RI/RIC categories (9:15 AM - 3:30 PM)
    • Unallocated bidders from T Day can carry forward bids
  • November 7th, 2025 (T+2 Day): Give up/Take up window (until 7:30 AM)
  • Settlement: T+1 for most categories, T+2 for retail investors

Impact Assessment

Market Impact: Limited to IRONWOOD EDUCATION LIMITED stock with moderate offer size of 2.47 lakh shares. The OFS may create temporary price pressure depending on demand-supply dynamics.

Investor Categories Affected:

  • Retail Investors (individuals, HUF, NRI with bids up to Rs. 2 lakhs)
  • Non-Institutional Investors (individuals, HUF, trusts, body corporates, PMS with bids above Rs. 2 lakhs)
  • Institutional Investors (mutual funds, insurance companies, FIIs, FIs, banks)

Operational Impact: Members must ensure systems are configured to access iBBS platform, RTRMS, and Extranet through internet or leased line URLs. The two-day bidding structure requires coordination for retail investor participation and carry-forward bid management.

Liquidity: The proportionate allocation method ensures fair distribution across investor categories with retail reservation providing specific access for smaller investors.

Impact Justification

OFS event for specific company with structured bidding process affecting multiple investor categories over two trading days