Description
NSE Clearing announces settlement schedule for VIP Industries Limited takeover offer under tender offer scheme, with trading period from November 3-17, 2025 and settlement on December 1, 2025.
Summary
NSE Clearing Limited has issued the settlement calendar for the takeover offer under the Tender Offer scheme of VIP Industries Limited. The circular provides detailed timelines for trading, obligation download, and settlement, along with instructions for demat share tendering through early pay-in mechanism. This follows previous circulars NCL/CMPT/67751 (April 29, 2025) and NSE/CMTR/70993 (October 28, 2025).
Key Points
- Settlement Type: X, Settlement Number: 2025115
- Trade Start Date: November 3, 2025
- Trade End Date: November 17, 2025
- Obligation Download: November 28, 2025
- Settlement Date: December 1, 2025
- Demat shares must be tendered through early pay-in mechanism for Market Type Buyback
- Early pay-in of shares must be made by 3:30 PM on trade end date
- Securities Transaction Tax (STT) will be collected on settlement day
- Settlement schedule may be revised in case of delays in RTA acceptance details or funds pay-in
Regulatory Changes
No new regulatory changes introduced. This circular implements existing takeover regulations for the specific VIP Industries tender offer.
Compliance Requirements
For Members/Custodians/PCMs:
- Place early pay-in of demat shares through depository mechanism for Market Type Buyback
- Complete early pay-in well in advance for order acceptance up to 3:30 PM on trade end date
- Ensure timely funds pay-in to avoid settlement delays
- Review Tender Offer Acceptance Report for accepted, partially accepted, and rejected orders
- Refer to scheme document for complete details
- Contact helpdesk for clarifications (Toll Free: 1800 266 00 50, Option 2; Email: ncl_tenderoffer@nsccl.co.in)
Settlement Process:
- Securities and funds pay-out will occur post receipt of funds pay-in on Settlement Day
- Rejection reasons for non-acceptance or partial allocation provided via codes (26 rejection codes listed in Annexure I)
Important Dates
| Event | Date |
|---|---|
| Trade Start Date | November 3, 2025 |
| Trade End Date | November 17, 2025 |
| Early Pay-in Deadline | November 17, 2025 (by 3:30 PM) |
| Obligation Download | November 28, 2025 |
| Settlement Date | December 1, 2025 |
Note: Settlement schedule subject to revision in case of delays from RTA or buying member.
Impact Assessment
Market Impact: Medium - affects only VIP Industries shareholders participating in the takeover offer.
Operational Impact: Shareholders and members must adhere to strict timelines for share tendering and settlement. The 15-day trading window (November 3-17) requires advance planning for early pay-in submissions.
Participant Impact:
- Shareholders holding VIP Industries shares need to decide on participation and complete early pay-in by deadline
- Trading members must manage client orders and ensure timely early pay-in submission
- Risk of rejection or partial acceptance based on 26 different rejection codes covering issues like signature mismatches, missing documents, PAN mismatches, excess shares tendered, and eligibility criteria
Risk Factors: Potential for order rejection due to documentation issues, timing delays, or eligibility problems as outlined in Annexure I rejection codes.
Impact Justification
Specific to VIP Industries takeover offer; affects shareholders participating in tender offer with defined trading and settlement timelines