Description
BSE announces the schedule for the delisting offer to buy acquisition window for Chandi Steel Industries Limited (CSIL) from November 18-24, 2025, with a floor price of Rs. 62.19 per share.
Summary
BSE has announced the operational schedule for the Offer to Buy – Acquisition Window (Delisting) for Chandi Steel Industries Limited (CSIL). The delisting process will be conducted from Tuesday, November 18, 2025, to Monday, November 24, 2025. The offer involves 99,27,438 equity shares at a floor price of Rs. 62.19 per share. The company is currently only listed on the Calcutta Stock Exchange.
Key Points
- Security: Chandi Steel Industries Limited (Symbol: CSIL, ISIN: INE204G01017, Scrip Code: 999947)
- Offer Size: 99,27,438 equity shares with market lot of 1 and face value of Rs. 10.00
- Floor Price: Rs. 62.19 per share
- Live Session Period: November 18-24, 2025
- Bid offering timings: 9:15 AM to 3:30 PM during the offer period
- Bid modification and cancellation available only until November 21, 2025
- Company is only listed at Calcutta Stock Exchange
- Multiple investor categories eligible: FII, FI, MF, IC, Other QIBs, Other NOH, Company, and Individual
Regulatory Changes
No regulatory changes introduced. This circular provides operational guidelines for a company-specific delisting event following established BSE procedures as per notices 20150930-1 (September 30, 2015) and 20170203-29 (April 3, 2017).
Compliance Requirements
- Trading Members and Custodian Members must ensure UCC (Unique Client Code) of investors is registered/updated with correct PAN Number and Category in the Exchange UCC database
- Trading Members can bid for investors having shares in both demat and physical form
- Members must use designated platforms: iBBS (https://ibbs.bseindia.com/ or https://ibbsll.bseindia.com/), RTRMS (https://rtrms.bseindia.com/ or https://rtrmsll.bseindia.com/), and Extranet (https://member.bseindia.com/ or https://memberll.bseindia.com/)
- If no securities are accepted, no End of Issue files will be generated in Extranet
- Members should contact Trading Operations (022-22728005, user.trdops@bseindia.com) for login and password issues
Important Dates
- November 18, 2025 (Tuesday): Opening date, bid offering period begins (9:15 AM - 3:30 PM)
- November 18-21, 2025: Bid modification and cancellation period (9:15 AM - 3:30 PM)
- November 18-21, 2025: Give-up/Take-up period (9:15 AM - 3:30 PM)
- November 21, 2025 (Friday): Last day for bid modification/cancellation
- November 24, 2025 (Monday): Closing date, bid offering period ends (9:15 AM - 3:30 PM)
- November 24, 2025: Give-up period (9:15 AM - 3:30 PM), Take-up period (9:15 AM - 4:00 PM)
Impact Assessment
Market Impact: Minimal to low. This is a company-specific delisting event affecting only Chandi Steel Industries Limited shareholders. The company is exclusively listed on the Calcutta Stock Exchange, limiting the investor base and broader market impact.
Operational Impact: Low. Standard delisting procedures are being followed using established BSE infrastructure (iBBS, RTRMS platforms). Trading Members and Custodians need to facilitate bidding for eligible investors during the specified window.
Investor Impact: Moderate for CSIL shareholders. Investors holding 99.27 lakh shares have a one-week window to participate in the delisting offer at the floor price of Rs. 62.19. Shareholders must decide whether to tender their shares or retain them, noting that post-delisting, trading opportunities will be significantly limited.
Impact Justification
Company-specific delisting event with limited market-wide impact; only listed on Calcutta Stock Exchange, affecting a narrow investor base with offer size of 99.27 lakh shares