Description

BSE revises settlement calendar for Offer to Buy under Acquisition Window (Takeover) for ESHA MEDIA RESEARCH LIMITED, extending bid end date to January 28, 2026.

Summary

BSE has issued a revised settlement calendar for the Offer to Buy under Acquisition Window (Takeover) for ESHA MEDIA RESEARCH LIMITED. The bid end date has been extended by one day from January 27, 2026 to January 28, 2026, with corresponding adjustments to obligation download and settlement dates. The takeover offer period runs from January 13, 2026 to January 28, 2026 under Settlement No. 2026006.

Key Points

  • Revised bid end date extended to January 28, 2026 (previously January 27, 2026)
  • Settlement No. 2026006 remains unchanged
  • Bid start date unchanged: January 13, 2026
  • Revised obligation download date: February 10, 2026
  • Revised settlement date: February 11, 2026
  • Demat shares must be delivered through Early Pay-in of Shares mechanism only
  • Market Type “(Takeover)” to be used in depository system

Regulatory Changes

No new regulatory changes introduced. The circular implements a schedule revision to an existing takeover offer under the established framework 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 exclusively through Early Pay-in of Shares mechanism available in both depositories
  • Members/Custodians must use Market Type “(Takeover)” and Settlement No. 2026006 in the depository system
  • Members should refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise Stamp Duty charges
  • Members must follow guidelines per Notice No. 20200528-32 regarding acquisition of shares through Stock Exchange

Important Dates

  • Bid Start Date: January 13, 2026
  • Revised Bid End Date: January 28, 2026 (extended from January 27, 2026)
  • Revised Obligation Download: February 10, 2026
  • Revised Settlement Date: February 11, 2026
  • Settlement No.: 2026006

Impact Assessment

Market Impact: The one-day extension provides additional time for shareholders of ESHA MEDIA RESEARCH LIMITED to participate in the takeover offer, potentially increasing participation rates.

Operational Impact: Members and custodians conducting transactions for this takeover must update their systems and processes to reflect the revised dates. The requirement for Early Pay-in mechanism ensures timely settlement of demat shares.

Shareholder Impact: Shareholders interested in tendering their shares now have until January 28, 2026 to participate in the offer, providing an extra day for decision-making and submission.

Contact Information: For clarifications, members can contact ICCL Help Desk at 022-69158590/45720490/45720690 or email iccl.helpdesk@icclindia.com.

Impact Justification

Revised settlement schedule for ongoing takeover offer affecting specific stock; important for shareholders participating in the offer but limited to single company