Description
BSE announces the settlement calendar for the Offer to Buy – Acquisition Window (Takeover) for Kesoram Industries Limited, with bidding open from February 26 to March 12, 2026 and settlement on March 18, 2026.
Summary
BSE (via Indian Clearing Corporation Ltd.) has published the settlement schedule 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 to be downloaded by March 17, 2026 and final settlement on March 18, 2026 under Settlement No. 2026020.
Key Points
- Settlement Type: Takeover; Settlement No. 2026020
- Bid Start Date: February 26, 2026
- Bid End Date: March 12, 2026
- Obligation Download Date: March 17, 2026
- Settlement Date: March 18, 2026
- 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 clients’ accounts; no EPN file upload is required
- Members should refer to file
MBRSTD_OTB_CM_mmm_SettNofor client-wise Stamp Duty charges - Reference circular for revised guidelines: Notice No. 20200528-32 dated May 28, 2020
Regulatory Changes
No new regulatory changes are introduced. This circular operationalizes the existing framework for acquisition of shares through the Stock Exchange as per the Revised Guidelines referenced in Notice No. 20200528-32 (May 28, 2020).
Compliance Requirements
- Members and Custodians must ensure early pay-in of securities is reflected in BSE/ICCL systems before prescribed timelines for bid acceptance and confirmation
- Early pay-in must be completed sufficiently in advance of closure of the BSE OTB Bidding Window (for members placing bids) and the Confirmation Window (for Custodians confirming bids)
- Use correct Market Type (Takeover) and Settlement No. 2026020 in all depository instructions
- No EPN file upload is required for early pay-in under this window
- Members must consult the
MBRSTD_OTB_CM_mmm_SettNofile for applicable Stamp Duty charges per client
Important Dates
| Event | Date |
|---|---|
| Bid Start Date | February 26, 2026 |
| Bid End Date | March 12, 2026 |
| Obligation Download | March 17, 2026 |
| Settlement Date | March 18, 2026 |
| Circular Date | February 25, 2026 |
Impact Assessment
This circular has a high operational impact on stock brokers, custodians, and their clients participating in the Kesoram Industries takeover offer. Participants must coordinate early pay-in through CDSL/NSDL within the specified window, ensuring timely reflection in BSE/ICCL systems. Failure to comply with early pay-in timelines may result in bids not being accepted or confirmed. The settlement cycle concludes on March 18, 2026, leaving a six-day post-bid-close window for obligations and final payout. Contact: ICCL Help Desk at 022-69158590 / 45720490 / 45720690 or iccl.helpdesk@icclindia.com.
Impact Justification
Directly governs the operational and settlement process for a live takeover acquisition window; members and custodians must act within strict timelines to avoid bid/settlement failures.