Description

NSE Clearing updates settlement schedule for Akzo Nobel India Limited takeover offer, extending obligation download and settlement dates due to potential delays in RTA acceptance details or funds pay-in.

Summary

NSE Clearing Limited has issued a revised settlement calendar for the takeover offer under the Tender Offer scheme of Akzo Nobel India Limited. This circular updates the previous communications (NCL/CMPT/70860 dated Oct 16, 2025 and NSE/CMTR/70832 dated Oct 15, 2025) with modified obligation download and settlement dates. The revision accounts for potential delays in receiving acceptance details from the Registrar and Transfer Agent (RTA) or delays in funds pay-in by buying trading members.

Key Points

  • Circular Reference: NCL/CMPT/71202 (Circular No. 0357/2025)
  • Settlement Type: X, Settlement Number: 2025102
  • Trade period remains unchanged: October 23, 2025 to November 6, 2025
  • Obligation download dates revised to: November 11-12, 2025
  • Settlement date to be determined based on RTA acceptance and funds receipt
  • All other details from previous circular NCL/CMPT/70860 continue to apply
  • Clearing Corporation reserves right to further revise schedule if delays occur

Regulatory Changes

No new regulatory changes introduced. This is a procedural update to the previously announced takeover offer settlement schedule.

Compliance Requirements

  • Members must note the revised settlement calendar dates
  • Trading members must ensure timely funds pay-in to avoid further schedule revisions
  • Members should monitor communications for any additional schedule updates
  • Contact NSE Clearing helpdesk for clarifications via:

Important Dates

  • Trade Start Date: October 23, 2025
  • Trade End Date: November 6, 2025
  • Obligation Download: November 11-12, 2025
  • Settlement Date: To be notified (conditional on RTA acceptance details and funds receipt)

Impact Assessment

This revision provides operational flexibility for the settlement process of Akzo Nobel’s takeover offer. The extended timeline reduces settlement risk by accommodating potential administrative delays from the RTA or payment delays from buying members. Members and custodians participating in this tender offer should adjust their internal timelines accordingly. The conditional nature of final settlement dates requires participants to remain attentive to further communications from NSE Clearing.

Impact Justification

Revised settlement calendar affects specific takeover transaction timing for members and custodians participating in Akzo Nobel tender offer, with conditional extensions based on RTA or funds receipt delays