Description

BSE announces revised settlement calendar for the takeover offer of ESHA MEDIA RESEARCH LIMITED conducted from January 13-28, 2026, with revised obligation download and settlement dates.

Summary

BSE has issued a revised settlement schedule for the Offer to Buy – Acquisition Window (Takeover) for ESHA MEDIA RESEARCH LIMITED. The takeover bid period was conducted from January 13, 2026 to January 28, 2026 under Settlement No. 2026006. The revised obligation download date is February 3, 2026, and the revised settlement date is February 4, 2026. This circular supersedes Notice No. 20260114-17.

Key Points

  • Takeover Settlement No.: 2026006
  • Bid period: January 13, 2026 to January 28, 2026
  • Revised obligation download date: February 3, 2026
  • Revised settlement date: February 4, 2026
  • Demat shares must be delivered through Early Pay-in of Shares mechanism available in both depositories
  • Market Type “(Takeover)” and Settlement No. 2026006 must be used by Members/Custodians in the depository system
  • Members should refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise Stamp Duty charges

Regulatory Changes

No new regulatory changes. This circular provides revised settlement timeline for an ongoing takeover process following existing acquisition guidelines as per Notice No. 20200528-32 dated May 28, 2020.

Compliance Requirements

  • Members and Custodians must deliver demat shares only through the Early Pay-in of Shares mechanism
  • Members and Custodians must use Market Type “(Takeover)” and Settlement No. 2026006 in the depository system
  • Members must refer to the MBRSTD_OTB_CM_mmm_SettNo file for accurate client-wise Stamp Duty charges
  • Members should refer to Notice No. 20200528-32 for settlement procedures as per Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange

Important Dates

  • Bid Start Date: January 13, 2026
  • Bid End Date: January 28, 2026 (unchanged)
  • Revised Obligation Download: February 3, 2026
  • Revised Settlement Date: February 4, 2026

Impact Assessment

This circular has minimal market-wide impact as it pertains to a company-specific takeover settlement schedule revision. The impact is limited to:

  • Shareholders of ESHA MEDIA RESEARCH LIMITED who participated in the acquisition window
  • Members and Custodians handling the settlement of this specific takeover offer
  • ICCL settlement operations for this particular transaction

The one-day revision in settlement timeline (from the original schedule in Notice No. 20260114-17) provides clarity on obligation fulfillment and settlement completion dates for participants in this takeover offer.

Impact Justification

Company-specific takeover settlement revision with limited market-wide impact, affecting only shareholders of ESHA MEDIA RESEARCH LIMITED participating in the acquisition window