Description

Revised settlement calendar for the Offer to Buy (Takeover) for Cupid Breweries and Distilleries Limited conducted from October 27, 2025 to November 10, 2025, with updated obligation download and settlement dates.

Summary

BSE has issued a revised settlement schedule for the Offer to Buy (Acquisition Window - Takeover) for CUPID BREWERIES AND DISTILLERIES LIMITED. The takeover bidding period ran from October 27, 2025 to November 10, 2025, with updated obligation download and settlement dates. This revision updates the previous notice dated October 24, 2025 (Notice No. 20251024-8).

Key Points

  • Settlement Type: Takeover
  • Settlement Number: 2025109
  • Bid Period: October 27, 2025 to November 10, 2025
  • Revised Obligation Download Date: November 14, 2025
  • Revised Settlement Date: November 17, 2025
  • Demat shares must be delivered through Early Pay-in of Shares mechanism available in both depositories
  • Market Type “(Takeover)” and Settlement No. 2025109 to be used by Members/Custodians in depository system
  • Members should refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise Stamp Duty charges

Regulatory Changes

No new regulatory changes introduced. This circular implements existing takeover regulations and settlement mechanisms as per the Revised Guidelines for Mechanism for acquisition of shares through Stock Exchange (referenced in Notice No. 20200528-32 dated May 28, 2020).

Compliance Requirements

  • Members/Custodians must use Early Pay-in of Shares mechanism for delivery of demat shares
  • Members/Custodians must specify Market Type “(Takeover)” and Settlement No. 2025109 in the depository system
  • Members must refer to the MBRSTD_OTB_CM_mmm_SettNo file for accurate client-wise Stamp Duty charges
  • Members/Custodians should refer to Notice No. 20200528-32 dated May 28, 2020 for settlement procedures under Revised Guidelines
  • For clarifications, contact relationship managers or ICCL Help Desk

Important Dates

  • October 27, 2025: Bid Start Date
  • November 10, 2025: Bid End Date
  • November 14, 2025: Revised Obligation Download Date
  • November 17, 2025: Revised Settlement Date

Impact Assessment

Market Impact: Limited to participants involved in the Cupid Breweries and Distilleries Limited takeover offer. The revision provides clarity on settlement timelines for successful bidders and sellers.

Operational Impact: Members and Custodians handling transactions for this specific takeover must adjust their settlement schedules and ensure compliance with the revised dates. The three-day extension from obligation download to settlement (November 14 to November 17) provides adequate time for settlement processing.

Stakeholder Impact: Shareholders who tendered shares in the acquisition window and acquirers will receive updated settlement timelines. The mandatory use of Early Pay-in mechanism ensures secure and timely delivery of securities.

Contact Information: ICCL Help Desk available at 022-69158590/45720490/45720690 or iccl.helpdesk@icclindia.com for clarifications.

Impact Justification

Settlement schedule revision for a specific takeover offer affects participants in the acquisition window but has limited broader market impact. Important for shareholders and members involved in this specific takeover.