Description
BSE/ICCL announces the settlement calendar for the Offer to Buy acquisition window (Takeover) for Kwality Wall's (India) Limited, running from April 23 to May 7, 2026, with settlement on May 21, 2026.
Summary
BSE/ICCL has published the settlement calendar for the Offer to Buy – Acquisition Window (Takeover) for Kwality Wall’s (India) Limited. The bidding window runs from April 23, 2026 to May 7, 2026, under Settlement No. 2026038, with the settlement date scheduled for May 21, 2026.
Key Points
- Settlement Type: Takeover | Settlement No.: 2026038
- Bid Start Date: April 23, 2026 | Bid End Date: May 7, 2026
- Obligation Download Date: May 20, 2026 | Settlement Date: May 21, 2026
- Demat shares must be delivered exclusively through the Early Pay-in of Shares mechanism via CDSL or NSDL
- Market Type “(Takeover)” and Settlement No. 2026038 must be specified in the depository system
- CDSL & NSDL early pay-in securities will be earmarked/blocked in the client’s account under the requisite market type and settlement number
- Members and Custodians are NOT required to upload any EPN file
- Members should refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise Stamp Duty charges
Regulatory Changes
No new regulatory changes introduced. Members and Custodians are directed to refer to existing Notice No. 20200528-32 dated May 28, 2020 regarding settlement per Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange.
Compliance Requirements
- Members/Custodians must use Market Type “(Takeover)” and Settlement No. 2026038 in the depository system
- Early pay-in of securities must be completed sufficiently in advance of the BSE OTB Bidding window closure for placing bids by members and the confirmation window for Custodians
- Effect of early pay-in must be reflected in BSE/ICCL systems before prescribed timelines
- No EPN file upload is required from Members or Custodians
- Members must check the MBRSTD_OTB_CM_mmm_SettNo file for client-wise Stamp Duty charges
Important Dates
| Event | Date |
|---|---|
| Bid Start Date | April 23, 2026 |
| Bid End Date | May 7, 2026 |
| Obligation Download | May 20, 2026 |
| Settlement Date | May 21, 2026 |
Impact Assessment
This circular directly impacts brokers, custodians, and investors participating in the Kwality Wall’s (India) Limited takeover offer. Participants must coordinate early pay-in of shares through depositories (CDSL/NSDL) before the bidding window closes. Failure to complete early pay-in in time will prevent bid acceptance. The settlement cycle spans approximately four weeks from bid opening to final settlement, requiring timely action from all participants in the depository and clearing ecosystem.
Impact Justification
This circular governs a live takeover acquisition window with strict settlement deadlines, early pay-in requirements, and specific depository instructions that members and custodians must comply with to participate.