Description
Schedule of activities for the Offer to Buy – Acquisition Window (Takeover) of AVISHKAR INFRA REALTY LTD shares, scheduled from December 23, 2025 to January 6, 2026.
Summary
BSE announces the detailed schedule for the Offer to Buy – Acquisition Window (Takeover) for AVISHKAR INFRA REALTY LTD (AIRLTD). The offer will run from December 23, 2025 to January 6, 2026, targeting up to 58,24,853 equity shares at an offer price of Rs. 16.20 per share. Trading Members and Custodian Members are required to note the operational procedures and timings for bid offering, give-up, and take-up activities.
Key Points
- Security Details: AVISHKAR INFRA REALTY LTD (Symbol: AIRLTD, ISIN: INE433O01024, Scrip Code: 508929)
- Offer Size: Up to 58,24,853 equity shares
- Offer Price: Rs. 16.20 per share
- Face Value: Rs. 10.00 per share
- Market Lot: 1 share
- Opening Date: Tuesday, December 23, 2025
- Closing Date: Tuesday, January 6, 2026
- Bid Categories: FII, FI, MF, IC, OTH, NOH, CO, IND
- Trading Members can bid for investors having shares in demat form
- UCC of investors must be registered/updated with correct PAN and Category
Regulatory Changes
No new regulatory changes introduced. The circular references existing Exchange Notices:
- Notice No. 20150930-1 dated September 30, 2015
- Notice No. 20170203-29 dated February 3, 2017
- Circular No. 20170503-12 for leased line URL access settings
Compliance Requirements
- Trading Members: Must ensure investor UCC is registered/updated with correct PAN Number and Category in Exchange UCC database
- Trading Members: Can only bid for investors having shares in demat form
- Members and Custodians: Note that if no securities are accepted, no End of Issue files will be generated in Extranet
- Access Requirements: Members must use iBBS platform, RTRMS, and Extranet for different operational activities
- Platform URLs:
- iBBS Internet: https://ibbs.bseindia.com/
- iBBS Leased Line: https://ibbsll.bseindia.com/
- RTRMS Internet: https://rtrms.bseindia.com/
- RTRMS Leased Line: https://rtrmsll.bseindia.com/
- Extranet Internet: https://member.bseindia.com/
- Extranet Leased Line: https://memberll.bseindia.com/
Important Dates
| Activity | Period | Session Timing |
|---|---|---|
| Bid Offering Period | December 23, 2025 to January 6, 2026 | 9:15 AM to 3:30 PM |
| Give-up / Take-up | December 23, 2025 to January 5, 2026 | 9:15 AM to 3:30 PM |
| Give-up (Last Day) | January 6, 2026 | 9:15 AM to 3:30 PM |
| Take-up (Last Day) | January 6, 2026 | 9:15 AM to 4:00 PM |
Note: Files on Extranet for acceptance of bids will be available when confirmation of acceptance is received by the Exchange from Merchant Banker/RTA after issue closure.
Impact Assessment
Market Impact: Medium - The takeover offer affects AVISHKAR INFRA REALTY LTD shareholders and provides an exit opportunity at Rs. 16.20 per share. The offer size of up to 58,24,853 shares represents a significant portion of equity.
Operational Impact: Trading Members and Custodian Members need to:
- Ensure proper UCC registration and updates for participating investors
- Familiarize themselves with iBBS, RTRMS, and Extranet platforms
- Monitor bid submission timings and give-up/take-up windows
- Coordinate with Trading Operations team for login credentials and technical support
Investor Categories Eligible: FII, Financial Institutions, Mutual Funds, Insurance Companies, Other QIBs, Other NIB, Companies, and Individuals can participate through their Trading Members.
Contact Support: Multiple contact points provided for iBBS (New Users/Password Reset), RTRMS, Extranet, and OTB Module queries through Trading Operations and Listing Sales teams.
Impact Justification
Medium importance as it affects a specific company takeover offer with defined bidding schedule and operational requirements for trading and custodian members.