Description

BSE revises settlement date for the 2019 Offer to Buy (Takeover) of Orient Tradelink Limited from August 9, 2019 to December 31, 2026.

Summary

BSE has revised the settlement schedule for the Offer to Buy (Acquisition Window/Takeover) of Orient Tradelink Limited that was originally conducted from July 5, 2019 to July 18, 2019. The revised settlement date has been extended from August 9, 2019 to December 31, 2026, representing a significant timeline extension for obligation fulfillment.

Key Points

  • Settlement Type: Takeover (Acquisition Window)
  • Settlement Number: 2019069
  • Bid Period: July 5, 2019 to July 18, 2019
  • Original Obligation Download Date: August 9, 2019
  • Revised Settlement Date: December 31, 2026
  • Demat shares must be delivered through Early Pay-in mechanism only
  • Market Type designation “Takeover” and Settlement No. 2019069 to be used in depository systems

Regulatory Changes

This circular revises the previous Notice No. 20241202-09, extending the settlement timeline by over 7 years from the original obligation date.

Compliance Requirements

  • Members/Custodians must deliver demat shares exclusively through Early Pay-in of Shares mechanism available in both depositories
  • Members/Custodians must use Market Type “Takeover” and Settlement No. 2019069 in depository system entries
  • Members should refer to Notice No. 20200528-32 dated May 28, 2020 for revised guidelines on share acquisition mechanism through stock exchange
  • Members must refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise stamp duty charges
  • Contact BSE Help Desk (022-45720400, bsehelp@bseindia.com) or relationship managers for clarifications

Important Dates

  • Bid Start Date: July 5, 2019
  • Bid End Date: July 18, 2019
  • Original Obligation Download: August 9, 2019
  • Revised Settlement Date: December 31, 2026
  • Circular Issue Date: December 26, 2025

Impact Assessment

This revision provides significant additional time for members and custodians to fulfill their settlement obligations from the 2019 takeover offer. The extension to December 31, 2026 suggests potential complications or delays in the original settlement process. Members holding unsettled positions from this acquisition window now have until end of 2026 to complete their obligations. The restriction to Early Pay-in mechanism ensures proper tracking and security of share delivery for this extended settlement period.

Impact Justification

Affects settlement of a historical 2019 takeover offer with significantly extended settlement timeline to end of 2026, impacting members holding obligations from that acquisition window.