Description

Schedule of activities for Offer to Buy – Acquisition Window (Takeover) of JOHNSON CONTROLS-HITACHI AIR CONDITIONING INDIA LTD from November 13, 2025 to November 26, 2025.

Summary

BSE has announced the detailed schedule for the Offer to Buy – Acquisition Window (Takeover) of JOHNSON CONTROLS-HITACHI AIR CONDITIONING INDIA LTD (JCHAC). The offer will be open from Thursday, November 13, 2025 to Wednesday, November 26, 2025, with an offer size of up to 70,00,355 equity shares at Rs. 1762.54 per share. Trading members and custodian members must facilitate participation through the iBBS platform during specified session timings.

Key Points

  • Security Details: JOHNSON CONTROLS-HITACHI AIR CONDITIONING INDIA LTD (Symbol: JCHAC, ISIN: INE782A01015, Scrip Code: 523398)
  • Offer Size: Up to 70,00,355 equity shares
  • Offer Price: Rs. 1762.54 per share
  • Face Value: Rs. 10.00
  • Market Lot: 1 share
  • Offer Period: November 13, 2025 to November 26, 2025
  • Bid Offering Hours: 9:15 AM to 3:30 PM (all days)
  • Give-up/Take-up: Available 9:15 AM to 3:30 PM (except last day take-up extended to 4:00 PM)
  • Eligible Investors: FII, FI, MF, IC, Other QIBs, Other NIB, Company, and Individual categories
  • Platform Access: iBBS, RTRMS, and Extranet (both Internet and Leased Line URLs provided)

Regulatory Changes

No new regulatory changes introduced. This circular operationalizes existing takeover regulations through the OTB mechanism as per Exchange Notices No. 20150930-1 (September 30, 2015) and No. 20170203-29 (February 3, 2017).

Compliance Requirements

  • Trading Members: Must ensure investor UCC is registered and updated with correct PAN Number and Category in Exchange UCC database
  • Bidding Eligibility: Trading members can only bid for investors having shares in demat form
  • Platform Requirements: Members must use iBBS platform (https://ibbs.bseindia.com/ or https://ibbsll.bseindia.com/) for bid submission
  • Custodian Members: Must access Extranet for acceptance files post-issue closure (files available only after confirmation from Merchant Banker/RTA)
  • No Physical Shares: Only demat holdings eligible for participation
  • Session Timings Compliance: Strict adherence to bid offering and give-up/take-up timings required

Important Dates

  • Opening Date: Thursday, November 13, 2025
  • Closing Date: Wednesday, November 26, 2025
  • Bid Offering Period: November 13-26, 2025 (9:15 AM - 3:30 PM)
  • Give-up/Take-up Period: November 13-25, 2025 (9:15 AM - 3:30 PM)
  • Last Day Give-up: November 26, 2025 (9:15 AM - 3:30 PM)
  • Last Day Take-up: November 26, 2025 (9:15 AM - 4:00 PM - extended by 30 minutes)

Impact Assessment

Market Impact: High - This takeover offer represents a significant corporate action for JCHAC shareholders. With an offer for up to 70 lakh shares at Rs. 1762.54 per share (total consideration approximately Rs. 1,233 crores), this is a material acquisition event.

Operational Impact: Trading members must ensure their systems and processes are ready to handle OTB bids through iBBS platform. Custodians need to prepare for post-closure file processing. Any technical issues with login credentials or platform access must be resolved before the opening date using the provided contact details (Trading Operations: 022-22728005, email: user.trdops@bseindia.com).

Investor Impact: Shareholders holding JCHAC shares in demat form have a 14-day window to participate in the takeover offer. The offer price of Rs. 1762.54 per share should be evaluated against current market prices to make informed decisions. The extended take-up timing on the last day (until 4:00 PM) provides additional flexibility for last-minute participation.

Impact Justification

Takeover offer for up to 70 lakh shares at Rs. 1762.54 per share, requiring immediate action from trading members and shareholders during the 14-day window