Description
NSE Clearing announces settlement calendar and timings for the Offer for Sale (OFS) of D S Kulkarni Developers shares scheduled for December 5 and 8, 2025.
Summary
NSE Clearing Limited has issued the settlement calendar for the Offer for Sale (OFS) of D S Kulkarni Developers Limited shares. The OFS will take place on December 5 and 8, 2025, with settlements following existing secondary market transaction rules. The circular specifies settlement numbers, margin categories, series types, order dates, custodial confirmation requirements, and settlement dates for both institutional (non-retail) and retail categories.
Key Points
- OFS settlement follows existing secondary market transaction rules as per circular NCL/CMPT/67751 dated April 29, 2025
- Two order dates: December 5, 2025 (institutional non-retail only) and December 8, 2025 (both retail and institutional)
- Multiple settlement categories: 100% margin and 0% margin for institutional investors, 100% margin for retail
- Settlement numbers 2025198 and 2025199 assigned for respective order dates
- Securities Transaction Tax (STT) and stamp duty will be collected on respective settlement days
- Dedicated helpdesk support available at 1800 266 0050 (Option 2) and ofs_ncl@nsccl.co.in
Settlement Schedule Details
December 5, 2025 Orders (Settlement No. 2025198):
- IS (non-retail) with 100% margin: Custodial confirmation by December 5 at 3:30 PM, settlement on December 8
- IS (non-retail) with 0% margin: Custodial confirmation by December 8 at 7:30 AM, settlement on December 8
December 8, 2025 Orders (Settlement No. 2025199):
- RS (Retail) with 100% margin: No custodial confirmation required, settlement on December 9
- IS (non-retail) with 100% margin: Custodial confirmation by December 8 at 3:30 PM, settlement on December 9
- IS (non-retail) with 0% margin: Custodial confirmation by December 9 at 7:30 AM, settlement on December 9
Settlement Timings
- Funds Pay-in: T+1 day by 11:00 AM
- Securities & Funds Pay-out: T+1 day by 01:30 PM
Compliance Requirements
- Members and custodians must adhere to the settlement calendar and timings specified
- Custodial confirmations must be submitted by the specified times (3:30 PM or 7:30 AM) depending on margin category
- Participants must ensure timely funds pay-in by T+1 day at 11:00 AM
- STT and stamp duty payments must be made on respective settlement days
- Members should contact the helpdesk for clarifications
Important Dates
- December 5, 2025: Order date for institutional non-retail investors
- December 8, 2025: Order date for both retail and institutional investors; Settlement date for December 5 orders
- December 9, 2025: Settlement date for December 8 orders
Impact Assessment
This circular has medium operational impact limited to participants in the D S Kulkarni Developers OFS. Members, custodians, and PCMs involved in the OFS must ensure compliance with the specified settlement calendar and timings. The staggered settlement approach with different margin requirements for institutional and retail investors follows standard OFS procedures. Proper coordination is required between trading members and custodians to meet confirmation deadlines, particularly for institutional trades requiring custodial confirmation.
Impact Justification
Operational circular providing settlement calendar for OFS of D S Kulkarni Developers. Important for participants in the OFS but routine settlement procedure. Medium impact limited to OFS participants.