Description
Schedule of activities for Offer to Buy (Acquisition Window/Takeover) of Johnson Controls-Hitachi Air Conditioning India Ltd shares from November 13-26, 2025.
Summary
BSE has announced the schedule for Offer to Buy (Acquisition Window - Takeover) for Johnson Controls-Hitachi Air Conditioning India Ltd (JCHAC). The offer will be conducted from November 13-26, 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 follow specific operational procedures and timelines for bid offerings, give-up/take-up transactions through designated BSE platforms.
Key Points
- Security Details: JCHAC (Scrip Code: 523398, ISIN: INE782A01015)
- 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 13-26, 2025
- Session Timings: 9:15 AM to 3:30 PM (Give-up till 3:30 PM on last day, Take-up till 4:00 PM on last day)
- Eligible Participants: FII, FI, MF, IC, Other QIBs, NIB, Company, Individual investors
- Trading Platforms: iBBS and RTRMS (both Internet and Leased Line access)
- Trading Member Requirements: Only investors with shares in demat form can bid; UCC must be registered with correct PAN and category
Regulatory Changes
No new regulatory changes. This circular follows existing OTB framework as per Exchange Notices No. 20150930-1 (September 30, 2015) and No. 20170203-29 (February 3, 2017).
Compliance Requirements
- Trading Members and Custodians must ensure investor UCC is registered and updated with correct PAN number and category in Exchange UCC database
- Trading Members can only bid for investors having shares in demat form
- Members must access iBBS platform via Internet (https://ibbs.bseindia.com/) or Leased Line (https://ibbsll.bseindia.com/)
- RTRMS platform access: Internet (https://rtrms.bseindia.com/) or Leased Line (https://rtrmsll.bseindia.com/)
- Extranet files for bid acceptance available post-confirmation from Merchant Banker/RTA after issue closure
- For Leased Line URL settings, refer to Exchange Circular No. 20170503-12
- Note: No End of Issue files will be generated in Extranet if no securities are accepted
Important Dates
| Event | Date | Time |
|---|---|---|
| Opening Date | November 13, 2025 | 9:15 AM |
| 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 |
| Give-up (Last Day) | November 26, 2025 | 9:15 AM - 3:30 PM |
| Take-up (Last Day) | November 26, 2025 | 9:15 AM - 4:00 PM |
| Closing Date | November 26, 2025 | 4:00 PM |
Impact Assessment
Market Impact: High - This is a significant takeover offer for JCHAC involving up to 70 lakh shares (approximately 14.66% if total shares are around 4.77 crore based on typical shareholding patterns). The offer price of Rs. 1762.54 per share represents a substantial transaction value of approximately Rs. 1,234 crores.
Operational Impact: Trading members must ensure systems and processes are ready for OTB module operations. Members need to verify investor eligibility (demat holdings), ensure UCC registration compliance, and coordinate with custodians for institutional clients. The 14-day offer window requires dedicated resource allocation for processing bids, give-up/take-up transactions, and client coordination.
Investor Impact: Shareholders of JCHAC have a two-week window to tender their shares at the specified price. This represents an exit opportunity for investors seeking liquidity.
Contact Support: BSE has provided dedicated contacts for technical support (Trading Operations: 022-22728005, user.trdops@bseindia.com) and specific points of contact for OTB module queries (Sandeep Pujari, Rushi Bhoir, Hormazdiar Mobedji) and listing sales (Mangesh Tayde, Rinkesh Gaikwad).
Impact Justification
Major corporate action involving takeover of up to 70 lakh shares with specific trading window and operational requirements for members.