Description
Settlement schedule and timings for the Offer for Sale (OFS) of shares of Ironwood Education Limited with details for retail and non-retail categories.
Summary
NSE Clearing Limited has issued the settlement calendar for the Offer for Sale (OFS) of shares of Ironwood Education Limited. The circular provides detailed settlement schedules for both retail and non-retail categories, including order dates, custodial confirmation dates, and settlement dates. The settlement follows existing rules for secondary market transactions as per circular NCL/CMPT/67751 dated April 29, 2025.
Key Points
- Settlement follows existing secondary market transaction rules
- Multiple settlement numbers (2025176 and 2025177) with different margin categories
- Separate schedules for Retail (RS) and Non-Retail (IS) categories
- Different margin requirements: 100% and 0% margin categories
- Funds pay-in required by T+1 day at 11:00 AM
- Securities and funds pay-out on T+1 day by 01:30 PM
- Securities Transaction Tax (STT) and stamp duty collected on respective settlement day
Settlement Schedule Details
Settlement 2025176 (Non-Retail Only)
- 100% Margin Category: Order Date: Nov 04, 2025 | Custodial Confirmation: Nov 04, 2025 at 03:30 PM | Settlement: Nov 06, 2025
- 0% Margin Category: Order Date: Nov 04, 2025 | Custodial Confirmation: Nov 06, 2025 at 07:30 AM | Settlement: Nov 06, 2025
Settlement 2025177 (Retail and Non-Retail)
- Retail (100% Margin): Order Date: Nov 06, 2025 | Settlement: Nov 07, 2025
- Non-Retail (100% Margin): Order Date: Nov 06, 2025 | Custodial Confirmation: Nov 06, 2025 at 03:30 PM | Settlement: Nov 07, 2025
- Non-Retail (0% Margin): Order Date: Nov 06, 2025 | Custodial Confirmation: Nov 07, 2025 at 07:30 AM | Settlement: Nov 07, 2025
Compliance Requirements
- Members and custodians must adhere to the published settlement calendar
- Custodial confirmations must be submitted by specified times (03:30 PM or 07:30 AM depending on category)
- Funds pay-in must be completed by T+1 day at 11:00 AM
- Applicable STT and stamp duty will be collected on respective settlement days
- For queries, contact helpdesk at 1800 266 0050 (Option 2) or email ofs_ncl@nsccl.co.in
Important Dates
- November 04, 2025: Order date for Settlement 2025176 (Non-Retail)
- November 06, 2025: Settlement date for 2025176; Order date for Settlement 2025177
- November 07, 2025: Settlement date for 2025177 (Retail and Non-Retail)
Impact Assessment
This circular has targeted impact on members, custodians, and PCMs participating in the Ironwood Education Limited OFS. The staggered settlement schedule with different margin categories provides flexibility for different investor types. The timeline is critical for participants to ensure timely funds and securities movement. Non-compliance with settlement timings could result in settlement failures or penalties.
Impact Justification
Company-specific OFS settlement schedule affecting only participants in Ironwood Education Limited's offer for sale. Medium importance for involved members and custodians.