Description

NSE Clearing provides settlement calendar and timings for Indosolar Limited's Offer for Sale transactions with different categories and margin requirements.

Summary

NSE Clearing Limited has issued a settlement calendar for the Offer for Sale (OFS) of shares of Indosolar Limited, detailing specific settlement schedules for different investor categories including retail (RS) and non-retail (IS) with varying margin requirements and settlement dates.

Key Points

  • Settlement follows existing secondary market transaction rules
  • Different settlement schedules for retail and non-retail categories
  • Multiple settlement numbers (2025117 and 2025118) with varying margin requirements (0% and 100%)
  • Specific custodial confirmation deadlines and settlement timings provided
  • Securities Transaction Tax (STT) and stamp duty collection on respective settlement days

Regulatory Changes

No new regulatory changes introduced - follows existing secondary market settlement rules as per circular NCL/CMPT/67751 dated April 29, 2025.

Compliance Requirements

  • Members and custodians must follow specified settlement calendar
  • Custodial confirmations required by specified deadlines (3:30 PM or 7:30 AM depending on category)
  • Funds pay-in required by T+1 day at 11:00 AM
  • Securities and funds pay-out by T+1 day at 1:30 PM
  • Payment of applicable STT and stamp duty on settlement day

Important Dates

  • August 07, 2025: Order date for settlement 2025117 (Non-retail)
  • August 08, 2025: Settlement date for 2025117 and order date for 2025118
  • August 11, 2025: Settlement date for 2025118 (both retail and non-retail)
  • Custodial confirmation times: 3:30 PM for 100% margin, 7:30 AM for 0% margin

Impact Assessment

Medium operational impact limited to participants in Indosolar Limited’s OFS. Provides clarity on settlement procedures and ensures smooth processing of OFS transactions with defined timelines for different investor categories.

Impact Justification

Operational circular affecting specific OFS transactions with defined settlement schedules