Description
Settlement schedule and timings for the Offer for Sale of Twamev Construction and Infrastructure Limited shares, with specific settlement numbers, margin categories, and payment timelines.
Summary
NSE Clearing Limited has issued the settlement calendar for the Offer for Sale (OFS) of shares of Twamev Construction and Infrastructure Limited. The circular provides detailed settlement schedules for both retail and non-retail categories with specific margin requirements, custodial confirmation timings, and settlement dates. This follows the reference circular NCL/CMPT/67751 dated April 29, 2025, and follows existing rules for secondary market transactions.
Key Points
- Settlement for OFS follows existing secondary market transaction rules
- Multiple settlement numbers (2025185 and 2025186) with different margin categories (100% and 0%)
- Separate settlement schedules for Retail (RS) and Non-Retail (IS) categories
- Funds pay-in due 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 will be collected on respective settlement days
Settlement Schedule
Settlement 2025185 (November 18, 2025):
- 100% Margin - IS (Non-Retail): Order date Nov 18, Custodial confirmation Nov 18 by 03:30 PM, Settlement Nov 19
- 0% Margin - IS (Non-Retail): Order date Nov 18, Custodial confirmation Nov 19 by 07:30 AM, Settlement Nov 19
Settlement 2025186:
- 100% Margin - RS (Retail): Order date Nov 19, Settlement Nov 20 (No custodial confirmation required)
- 100% Margin - IS (Non-Retail): Order date Nov 19, Custodial confirmation Nov 19 by 03:30 PM, Settlement Nov 20
- 0% Margin - IS (Non-Retail): Order date Nov 19, Custodial confirmation Nov 20 by 07:30 AM, Settlement Nov 20
Compliance Requirements
- Members and custodians must adhere to the specified settlement calendar
- Custodial confirmations must be provided by specified times (03:30 PM or 07:30 AM depending on margin category)
- Funds pay-in must be completed by T+1 day at 11:00 AM
- Members must ensure timely payment of STT and stamp duty on settlement days
- Contact helpdesk at 1800 266 0050 (Option 2) or ofs_ncl@nsccl.co.in for queries
Important Dates
- November 18, 2025: First order date for Settlement 2025185 (Non-Retail)
- November 19, 2025: Settlement date for Settlement 2025185 and second order date for Settlement 2025186
- November 20, 2025: Settlement date for Settlement 2025186 (both Retail and Non-Retail)
- T+1 Day 11:00 AM: Funds pay-in deadline
- T+1 Day 01:30 PM: Securities and funds pay-out time
Impact Assessment
This circular has medium impact as it provides operational clarity for participants in the Twamev Construction and Infrastructure Limited OFS. Members, custodians, and Participating Clearing Members (PCMs) need to ensure compliance with the specific settlement timelines and margin requirements. The staggered settlement schedule with different margin categories allows flexibility for different participant types while maintaining market integrity. Non-compliance with custodial confirmation timings or payment deadlines could result in settlement failures or penalties.
Impact Justification
Company-specific OFS settlement details affecting participants in the offer for sale, with clear timelines for margin requirements and settlement processing