Description

Schedule of activities for Offer for Sale of 5,00,000 shares of DS Kulkarni Developers Limited on December 5th and 8th, 2025, with floor price of Rs 10.00 per share.

Summary

BSE has announced the schedule for the Offer for Sale (OFS) of DS Kulkarni Developers Limited shares. The OFS will be conducted on December 5th, 2025 (for Institutional/Mutual Fund/Other/Non-Institutional Investors) and December 8th, 2025 (for Retail Investors and unallocated bidders). A total of 5,00,000 shares will be offered at a floor price of Rs 10.00 per equity share, with 10% reserved for retail investors. All eligible bidders will be allotted shares at the floor price using proportionate allocation methodology.

Key Points

  • Security: DS Kulkarni Developers Limited (Symbol: DSKULKARNI, Code: 523890, ISIN: INE891A01022)
  • Total Offer Size: 5,00,000 shares
  • Retail Reservation: 50,000 shares (10% of issue size)
  • Non-Retail Offer Size: 4,50,000 shares
  • Floor Price: Rs 10.00 per share (Face Value: Rs 10/-)
  • Market Lot: 1 share with tick size of Rs 0.01
  • Allocation Method: Proportionate - all eligible bidders will be allotted at floor price only
  • Multiple Bidding: Allowed

Regulatory Changes

No regulatory changes introduced. This is a standard OFS procedure following existing BSE guidelines for offer for sale of shares.

Compliance Requirements

For Trading Members and Custodian Members:

  1. Margin Requirements by Investor Category:

    • Retail Investors (RI/RIC) & Employees (EMP): 100% upfront margin in cash & cash equivalents
    • Non-Institutional Investors (NII): 100% upfront margin in cash
    • Institutional Investors (MF/IC/OTHS): 100% upfront margin in cash OR 0% margin option available

  2. Access URLs:

  3. Bidding Categories:

    • MF: Mutual Fund
    • IC: Insurance Company
    • NII: Non-Institutional Investors (Individual, HUF, Trust, Body Corporates, PMS)
    • OTHS: Others (FII, FI, Banks)
    • RI: Retail Investors (Individual, HUF, NRI)
    • RIC: Retail Investors bidding at cut-off
    • EMP: Employees (bid value up to Rs 5 lakhs)

  4. Important Notes:

    • Retail Investor definition: Individual investor placing bids for total value not more than Rs 2 lakhs
    • Retail investors can bid in “RI”, “RIC” and/or “NII” categories
    • Retail investors bidding in NII category will not be eligible for discount (if any)
    • Multiple bidding allowed

Important Dates

T Day - December 5th, 2025 (Thursday):

  • Institutional/Mutual Fund/Other/Non-Institutional Investors (IC/MF/OTH/NII)
    • Bid Entry Period: 9:15 AM to 3:30 PM
    • Bid Modification and Cancellation: 9:15 AM to 3:30 PM
    • Settlement: T+1 day

T+1 Day - December 8th, 2025 (Monday):

  • Give up/Take up for Institutional Investors (0% margin bids only): Up to 7:30 AM
  • Retail Investors/Employees (RI/RIC/EMP) and unallocated T-day bidders:
    • Bid Entry Period: 9:15 AM to 3:30 PM
    • Bid Modification and Cancellation: 9:15 AM to 3:30 PM
    • Settlement: T+2 day

T+2 Day - December 9th, 2025 (Tuesday):

  • Give up/Take up for unallocated T+1 day bidders: Up to 7:30 AM
  • Settlement for T+1 day bids

Impact Assessment

Market Impact:

  • Moderate supply: 5,00,000 shares being offered, representing potential selling pressure on DSKULKARNI stock
  • Price Discovery: Floor price set at Rs 10.00, which equals the face value, indicating potential distress or restructuring scenario
  • Liquidity Event: OFS will provide liquidity opportunity for investors interested in this security

Investor Impact:

  • Retail Participation: 10% reservation ensures retail investor access with dedicated bidding day on T+1
  • Flexible Bidding: Retail investors can participate in both retail and non-institutional categories
  • Guaranteed Allocation: Proportionate allocation at floor price provides certainty on pricing
  • Carry Forward Option: Unallocated bidders can carry forward bids to next day

Operational Impact:

  • Two-Day Process: Staggered bidding schedule requires coordination across multiple investor categories
  • Margin Requirements: 100% upfront margin for most categories ensures settlement risk mitigation
  • Multiple Access Channels: Internet and leased line options provide redundancy for trading members

Impact Justification

Scheduled OFS event for DS Kulkarni Developers with specific bidding windows for different investor categories. Medium impact as it involves 5 lakh shares with structured allocation methodology.