Description

BSE/ICCL has issued a revised settlement schedule for the Offer to Buy under the Acquisition Window (Takeover) mechanism for Photon Capital Advisors Limited.

Summary

BSE, through ICCL (Indian Clearing Corporation Limited), has issued Notice No. 20260416-8 dated April 16, 2026, providing a revised settlement schedule for the Offer to Buy under the Acquisition Window (Takeover) for Photon Capital Advisors Limited. This notice supersedes any earlier settlement schedule communicated for this takeover offer.

Key Points

  • Notice issued by ICCL under the Settlement/RMS category on April 16, 2026
  • Pertains to the Offer to Buy via the BSE Acquisition Window under Takeover regulations
  • Concerns Photon Capital Advisors Limited
  • Revised schedule indicates a modification to the previously announced settlement timeline
  • No attachment provided with the notice; details communicated within the notice itself

Regulatory Changes

No new regulatory framework is introduced. This notice operates within the existing SEBI Takeover Regulations and BSE Acquisition Window mechanism, updating the settlement schedule for the ongoing open offer for Photon Capital Advisors Limited.

Compliance Requirements

  • Brokers and clearing members participating in the Offer to Buy for Photon Capital Advisors Limited must adhere to the revised settlement schedule
  • Sellers tendering shares through the Acquisition Window should coordinate with their brokers to ensure timely settlement as per the updated dates
  • ICCL participants must update their systems and processes to reflect the revised schedule

Important Dates

  • Notice Date: April 16, 2026
  • Revised settlement dates: Specific revised dates are referenced in the notice (full details available in the linked PDF)

Impact Assessment

The impact is limited to shareholders and market participants involved in the takeover offer for Photon Capital Advisors Limited. The revision to the settlement schedule may affect the timing of fund/securities payouts for those who have tendered or plan to tender shares in the open offer. Brokers and clearing members need to update their operational schedules accordingly. No broad market impact is anticipated.

Impact Justification

Revised settlement schedule affects participants in the takeover offer for Photon Capital Advisors Limited; relevant to shareholders and brokers involved in the acquisition window but limited to a single scrip.