Description

Settlement calendar for the acquisition window (takeover) of EMA INDIA LIMITED to be conducted from November 14, 2025 to November 27, 2025.

Summary

BSE has announced the settlement calendar for the Offer to Buy via Acquisition Window (Takeover) for EMA INDIA LIMITED. The bidding window will operate from November 14, 2025 to November 27, 2025, with settlement number 2025120. Obligation download is scheduled for December 4, 2025, and settlement date is December 5, 2025.

Key Points

  • Settlement Type: Takeover
  • Settlement Number: 2025120
  • Bid Start Date: November 14, 2025
  • Bid End Date: November 27, 2025
  • Obligation Download: December 4, 2025
  • Settlement Date: December 5, 2025
  • Demat shares must be delivered through Early Pay-in of Shares mechanism only
  • Market Type “Takeover” and settlement number 2025120 to be used in depository system
  • Members should refer to Notice No.20200528-32 dated May 28, 2020 for revised guidelines

Regulatory Changes

No new regulatory changes. This circular follows the existing framework established in Notice No.20200528-32 dated May 28, 2020 regarding the Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange.

Compliance Requirements

  • Members/Custodians: Must deliver demat shares only through Early Pay-in of Shares mechanism available in both depositories
  • Participants: Must ensure early pay-in of securities is reflected in BSE/ICCL systems before prescribed timelines for accepting/confirming bids
  • Process Timing: Complete early pay-in process in depository system sufficiently in advance before closure of BSE OTB Bidding window
  • CDSL & NSDL: Early pay-in securities will be earmarked/blocked in clients’ accounts in requisite market type and settlement number
  • No 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

Important Dates

  • November 14, 2025: Bid start date
  • November 27, 2025: Bid end date
  • December 4, 2025: Obligation download date
  • December 5, 2025: Settlement date

Impact Assessment

Operational Impact: Medium - This takeover process requires specific procedural compliance from members and custodians participating in the acquisition. The early pay-in mechanism and timeline requirements necessitate careful operational planning.

Market Impact: Limited to shareholders and market participants of EMA INDIA LIMITED. The 14-day bidding window provides adequate time for participation. Contact support available through ICCL Help Desk (022-69158590/45720490/45720690 or iccl.helpdesk@icclindia.com) for clarifications.

Stakeholder Impact: Directly affects shareholders of EMA India Limited who may participate in the takeover offer, and brokers/custodians facilitating the acquisition process.

Impact Justification

Company-specific takeover settlement schedule affecting shareholders and market participants of EMA India Limited. Important for those involved in the acquisition but limited broader market impact.