Description
Schedule of activities for Offer for Sale of 2,46,977 shares of IRONWOOD EDUCATION LIMITED scheduled for November 4-6, 2025 with detailed bidding timings and investor categories.
Summary
BSE has announced the schedule for Offer for Sale (OFS) of IRONWOOD EDUCATION LIMITED (Security Code: 508918, ISIN: INE791H01011). The OFS comprises 2,46,977 shares with a floor price of Rs. 39.00 per share. Non-retail investors (IC/MF/OTH/NII) can bid on November 4, 2025 (T Day), while retail investors can bid on November 6, 2025 (T+1 Day) along with unallocated bidders from T Day who choose to carry forward their bids. The offer reserves 10% (24,698 shares) for retail investors and 90% (2,22,279 shares) for non-retail investors.
Key Points
- Total offer size: 2,46,977 shares
- Floor price: Rs. 39.00 per share
- Market lot: 1 share
- Face value: Rs. 10 per share
- Retail reservation: 10% of issue size (24,698 shares)
- Non-retail offer size: 2,22,279 shares
- Allocation methodology: Proportionate
- Tick size: Rs. 0.01
- Multiple bidding allowed
- Retail investors can bid up to Rs. 2 lakhs to qualify for retail category benefits
Regulatory Changes
No regulatory changes. This is a standard OFS activity notification following existing BSE OFS framework.
Compliance Requirements
For Trading Members and Custodian Members:
- Note the schedule of activities for the OFS
- Ensure proper bid entry and settlement procedures are followed
- Use designated BSE platforms for OFS access:
- iBBS platform: https://ibbs.bseindia.com/ (Internet) or https://ibbsll.bseindia.com/ (Leased Line)
- RTRMS: https://rtrms.bseindia.com/ (Internet) or https://rtrmsll.bseindia.com/ (Leased Line)
- Extranet for Files: https://member.bseindia.com/ (Internet) or https://memberll.bseindia.com/ (Leased Line)
For Investors:
- Retail investors (bid value up to Rs. 2 lakhs) must provide 100% upfront margin in cash or cash equivalents
- Non-retail investors must provide 100% upfront margin in cash
- Institutional investors can opt for 0% margin or 100% margin (both in cash)
- Retail investors bidding in NII category not eligible for any seller discount
- If cumulative bid value across exchanges exceeds Rs. 2 lakhs, RI/RIC category bids become ineligible
Important Dates
November 4, 2025 (T Day):
- Bid entry period for IC/MF/OTH/NII: 9:15 AM to 3:30 PM
- Bid modification and cancellation: 9:15 AM to 3:30 PM
- Settlement day for T Day bids: November 5, 2025 (T+1)
November 6, 2025 (T+1 Day):
- Give up/Take up window (for institutional investor 0% margin bids): Up to 7:30 AM
- Bid entry period for RI/RIC and unallocated T Day bidders: 9:15 AM to 3:30 PM
- Bid modification and cancellation: 9:15 AM to 3:30 PM
- Settlement day for T+1 bids: November 7, 2025 (T+2)
November 7, 2025 (T+2 Day):
- Give up/Take up window: Up to 7:30 AM
- Settlement day for RI/RIC bids placed on T+1
Impact Assessment
Market Impact: Medium - The OFS of 2,46,977 shares at floor price of Rs. 39 represents a moderate offering for IRONWOOD EDUCATION LIMITED. The staggered bidding schedule separates institutional and retail participation, potentially reducing volatility.
Investor Categories Affected:
- Retail Investors (RI/RIC): Can participate on T+1 Day (November 6) with 10% reservation, bidding up to Rs. 2 lakhs for retail benefits
- Non-Institutional Investors (NII): Can participate on T Day (November 4) with 100% upfront cash margin
- Institutional Investors (MF/IC/OTHS): Can participate on T Day with choice of 0% or 100% margin options
Operational Impact: Trading members must ensure systems are configured to handle the two-day bidding window and different investor category requirements. The proportionate allocation methodology will apply if the issue is oversubscribed. Retail investors have flexibility to bid in RI, RIC, or NII categories but must monitor cumulative bid values to maintain retail category eligibility.
Impact Justification
Medium impact OFS affecting specific stock with defined retail and non-retail investor participation windows