Description

Settlement calendar for the takeover offer to buy acquisition window for ESHA MEDIA RESEARCH LIMITED, to be conducted from January 13, 2026 to January 27, 2026.

Summary

BSE has announced the settlement calendar for the Offer to Buy – Acquisition Window (Takeover) for ESHA MEDIA RESEARCH LIMITED. The bidding window will be open from January 13, 2026 to January 27, 2026, with settlement number 2026006. Obligation download is scheduled for February 9, 2026, and settlement date is February 10, 2026.

Key Points

  • Takeover settlement number: 2026006
  • Bidding period: January 13, 2026 to January 27, 2026
  • Demat shares must be delivered through Early Pay-in mechanism only
  • Market Type “Takeover” and settlement number 2026006 to be used in depository system
  • CDSL & NSDL early pay-in securities will be earmarked/blocked in client accounts
  • No EPN file upload required by Members & Custodians
  • Members can refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise Stamp Duty charges

Regulatory Changes

No new regulatory changes. This circular follows the Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange as per Notice No.20200528-32 dated May 28, 2020.

Compliance Requirements

  • Members/Custodians must deliver demat shares only through Early Pay-in of Shares mechanism available in both depositories
  • Participants must ensure early pay-in securities are reflected in BSE/ICCL systems before prescribed timelines for accepting/confirming bids
  • Early pay-in process must be completed sufficiently in advance before BSE OTB Bidding window closure for bid placement and confirmation
  • Use Market Type “Takeover” and settlement number 2026006 in depository system transactions

Important Dates

  • Bid Start Date: January 13, 2026
  • Bid End Date: January 27, 2026
  • Obligation Download: February 9, 2026
  • Settlement Date: February 10, 2026

Impact Assessment

This circular has limited market-wide impact as it pertains specifically to the takeover offer for ESHA MEDIA RESEARCH LIMITED. The impact is primarily on:

  • Shareholders of ESHA MEDIA RESEARCH LIMITED who wish to participate in the takeover offer
  • BSE members and custodians facilitating the acquisition window transactions
  • Clearing and settlement operations for this specific takeover settlement

The use of the Early Pay-in mechanism ensures smooth settlement and reduces counterparty risk. Members and custodians should note the timeline requirements to ensure timely processing of client orders during the bidding window.

Impact Justification

Company-specific takeover settlement schedule with limited market-wide impact, relevant primarily to ESHA MEDIA RESEARCH LIMITED shareholders and participating members