Description

BSE announces schedule of activities for Offer for Sale of 5,00,000 shares of DS Kulkarni Developers Ltd scheduled for December 5-8, 2025 with floor price of Rs 10.00 per share.

Summary

BSE has announced the detailed schedule for the Offer for Sale (OFS) of DS Kulkarni Developers Ltd (Security Code: 523890, ISIN: INE891A01022). The OFS will offer 5,00,000 equity shares at a floor price of Rs 10.00 per share using proportionate allocation methodology. Bidding for Institutional/Non-Institutional investors will occur on December 5, 2025, while Retail Investors can bid on December 8, 2025. All eligible bidders will be allotted shares at the floor price of Rs 10.00 per equity share.

Key Points

  • Total offer size: 5,00,000 shares with 10% (50,000 shares) reserved for retail investors
  • Floor price: Rs 10.00 per share with face value of Rs 10
  • Market lot: 1 share with tick size of Rs 0.01
  • Allocation methodology: Proportionate basis at floor price for all eligible bidders
  • Institutional/MF/Non-Institutional bidding: December 5, 2025 (9:15 AM to 3:30 PM)
  • Retail investor bidding: December 8, 2025 (9:15 AM to 3:30 PM)
  • Multiple bidding allowed
  • Retail investors can bid in RI, RIC, and/or NII categories

Regulatory Changes

No regulatory changes introduced. This circular provides operational guidelines for a specific OFS transaction following existing BSE OFS framework.

Compliance Requirements

  • Trading members and custodian members must note the OFS schedule and category requirements
  • Different margin requirements apply based on investor category:
    • Retail Investors (RI/RIC): 100% upfront margin in cash and cash equivalents
    • Employees (EMP): 100% upfront margin in cash and cash equivalents
    • Non-Institutional Investors (NII): 100% upfront margin in cash
    • Institutional Investors (MF/IC/OTHS): Either 100% upfront margin or 0% margin option available
  • Retail investors bidding in NII category will not be eligible for discounts
  • Access OFS module through specified URLs: iBBS platform, RTRMS, and Extranet for files

Important Dates

  • December 5, 2025 (T Day): Bid entry, modification, and cancellation for IC/MF/OTH/NII (9:15 AM to 3:30 PM)
  • December 8, 2025 (T+1 Day): Give up/Take up for institutional 0% margin bids (until 7:30 AM); Bid entry for RI/RIC/EMP (9:15 AM to 3:30 PM)
  • December 9, 2025 (T+2 Day): Give up/Take up for unallocated bidders from T+1
  • Settlement Day: T+1 for institutional/non-institutional; T+2 for retail/employees

Impact Assessment

Market Impact: Limited to DS Kulkarni Developers Ltd and interested investors. The relatively small offer size of 5 lakh shares and low floor price of Rs 10 suggests modest market impact.

Investor Categories Affected:

  • Retail investors (up to Rs 2 lakh bid value) have dedicated reservation and later bidding window
  • Employees have separate category with bid limit up to Rs 5 lakhs
  • Institutional and non-institutional investors bid first on T Day
  • Unallocated bidders can carry forward bids to subsequent day

Operational Impact: Trading members and custodians need to facilitate client participation through specified platforms (iBBS, RTRMS) and ensure proper margin collection based on investor categories. The staggered bidding schedule (institutional first, retail second) allows for measured participation.

Impact Justification

Company-specific OFS event with defined schedule and pricing; impacts investors interested in DS Kulkarni Developers but limited broader market impact