Description
ICCL announces the settlement calendar for the Offer to Buy Acquisition Window (Takeover) for Glittek Granites Limited, with bidding open from May 19 to June 2, 2026 and settlement on June 16, 2026.
Summary
ICCL (Indian Clearing Corporation Ltd.) has published the settlement calendar for the Offer to Buy – Acquisition Window (Takeover) for Glittek Granites Limited. The bidding window runs from May 19, 2026 to June 2, 2026 under Settlement No. 2026053, with obligations download on June 15, 2026 and final settlement on June 16, 2026.
Key Points
- Settlement Type: Takeover (Settlement No. 2026053)
- Demat shares must be delivered exclusively through the Early Pay-in of Shares mechanism via CDSL or NSDL
- Members/Custodians must use Market Type “(Takeover)” and Settlement No. 2026053 in depository system entries
- CDSL & NSDL early pay-in securities will be earmarked/blocked in client accounts 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
- Reference Notice No. 20200528-32 (May 28, 2020) for revised guidelines on acquisition of shares through Stock Exchange
Regulatory Changes
No new regulatory changes introduced. This circular operationalizes the existing mechanism for acquisition of shares through Stock Exchange as per revised guidelines referenced in Notice No. 20200528-32 dated May 28, 2020.
Compliance Requirements
- Members/Custodians must ensure early pay-in of securities is reflected in BSE/ICCL systems before prescribed timelines for bid acceptance/confirmation on the BSE OTB platform
- Early pay-in must be completed sufficiently in advance of the 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. 2026053 in all depository system transactions
- No EPN file upload required
Important Dates
| Event | Date |
|---|---|
| Bid Start Date | May 19, 2026 |
| Bid End Date | June 2, 2026 |
| Obligation Download | June 15, 2026 |
| Settlement Date | June 16, 2026 |
Impact Assessment
This circular is operationally significant for stock brokers (members) and custodians participating in the Glittek Granites Limited takeover offer. It has no direct impact on the broader market. Participants must coordinate early pay-in timelines carefully to avoid bid rejection. The use of the BSE OTB (Offer to Buy) platform requires attention to both the bidding window closure and the custodian confirmation window. Contact ICCL Help Desk at 022-69158590 / 45720490 / 45720690 or iccl.helpdesk@icclindia.com for clarifications.
Impact Justification
Operational circular relevant only to members and custodians participating in the Glittek Granites takeover offer; limited broader market impact.