Description

Settlement calendar for the takeover offer to buy acquisition window for EMA India Limited, scheduled from November 14, 2025 to November 27, 2025, with settlement on December 5, 2025.

Summary

BSE has announced the settlement schedule for the Offer to Buy – Acquisition Window (Takeover) for EMA INDIA LIMITED. The bidding window will be open from November 14, 2025 to November 27, 2025, with settlement number 2025120. Obligation download is scheduled for December 4, 2025, and final 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 designation: “Takeover” with settlement no. 2025120
  • Securities will be earmarked/blocked in client accounts in requisite market type and settlement number
  • No EPN file upload required by Members & Custodians

Regulatory Changes

None. This circular follows existing guidelines per Notice No.20200528-32 dated May 28, 2020, regarding settlement as per 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 (CDSL & NSDL)
  • Members/Custodians: Must use Market Type “Takeover” and settlement no. 2025120 in the depository system
  • Participants: Must ensure early pay-in of securities is reflected in BSE/ICCL systems before prescribed timelines for accepting/confirming bids by BSE OTB platform
  • Participants: Must complete early pay-in process sufficiently in advance before closure of BSE OTB Bidding window for placing bids by members and confirmation window for custodians
  • Members: Should refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise Stamp Duty charges
  • Members: No EPN file upload required

Important Dates

  • November 12, 2025: Notice Date
  • November 14, 2025: Bid Start Date
  • November 27, 2025: Bid End Date
  • December 4, 2025: Obligation Download
  • December 5, 2025: Settlement Date

Impact Assessment

Impact on EMA India Limited Shareholders: Shareholders wishing to participate in the takeover offer must ensure their demat shares are delivered through the early pay-in mechanism during the specified bidding window.

Impact on Members/Custodians: Trading members and custodians must follow specific settlement procedures and ensure timely early pay-in of securities with correct market type designation to facilitate smooth settlement. Early pay-in timing is critical as securities must be reflected in BSE/ICCL systems before bidding window closure.

Operational Impact: The two-week bidding window provides adequate time for participants to complete necessary formalities. The use of early pay-in mechanism with automatic earmarking/blocking in client accounts streamlines the process and eliminates manual EPN file uploads.

Contact Information: For clarifications, Members & Custodians may contact ICCL Help Desk at 022-69158590/45720490/45720690 or email iccl.helpdesk@icclindia.com

Impact Justification

Specific to single company takeover process with defined settlement procedures. Material for shareholders of EMA India Limited and participating brokers/custodians.