Description
BSE announces the settlement calendar for the Offer to Buy – Acquisition Window (Takeover) for Kesoram Industries Limited, with bidding from February 26 to March 12, 2026, and settlement on March 18, 2026.
Summary
BSE, through Indian Clearing Corporation Ltd. (ICCL), has published the settlement calendar for the Offer to Buy – Acquisition Window (Takeover) for Kesoram Industries Limited. The bidding window runs from February 26, 2026 to March 12, 2026, with obligations downloadable on March 17, 2026 and final settlement on March 18, 2026 under Settlement No. 2026020.
Key Points
- Settlement Type: Takeover | Settlement No.: 2026020
- Demat shares must be delivered exclusively via the Early Pay-in of Shares mechanism available on both CDSL and NSDL
- Members/Custodians must use Market Type “(Takeover)” and Settlement No. 2026020 in the depository system
- CDSL & NSDL will earmark/block securities in the client account; no EPN file upload is required from Members or Custodians
- Members should refer to file
MBRSTD_OTB_CM_mmm_SettNofor client-wise Stamp Duty charges - Reference circular: Notice No. 20200528-32 dated May 28, 2020, regarding settlement per Revised Guidelines for acquisition of shares through Stock Exchange
Regulatory Changes
No new regulatory changes are introduced. This circular operationalises existing guidelines under Notice No. 20200528-32 (May 28, 2020) for the specific takeover settlement of Kesoram Industries Limited.
Compliance Requirements
- Members and Custodians must complete early pay-in of securities in the depository system sufficiently in advance of the BSE OTB Bidding window closure
- Early pay-in must be reflected in BSE/ICCL systems before prescribed timelines for bid acceptance/confirmation
- Use the correct Market Type “(Takeover)” and Settlement No. 2026020 when submitting in depository systems
- No EPN file upload is required; securities will be automatically earmarked/blocked by CDSL & NSDL
- Members must review the
MBRSTD_OTB_CM_mmm_SettNofile for Stamp Duty charges per client
Important Dates
| Event | Date |
|---|---|
| Bid Start Date | February 26, 2026 |
| Bid End Date | March 12, 2026 |
| Obligation Download Date | March 17, 2026 |
| Settlement Date | March 18, 2026 |
Impact Assessment
This circular directly affects brokers (Members) and Custodians participating in the takeover offer for Kesoram Industries Limited. Failure to complete early pay-in before the OTB bidding window closes may result in bid rejection or settlement failure. Investors tendering shares in the takeover must coordinate with their brokers well ahead of March 12, 2026. The settlement process follows established ICCL guidelines, minimising systemic risk, but operational discipline around timing is critical. Contact: ICCL Help Desk at 022-69158590 / 45720490 / 45720690 or iccl.helpdesk@icclindia.com.
Impact Justification
This circular sets mandatory settlement timelines and operational requirements for a takeover acquisition window affecting Kesoram Industries; members and custodians must comply with early pay-in and bidding deadlines or risk failed settlement obligations.