Description
NSE Clearing updates the settlement schedule for the takeover offer under tender offer scheme of SAL Steel Limited with revised obligation download and settlement dates.
Summary
NSE Clearing Limited has issued a revised settlement calendar for the takeover offer under the Tender Offer scheme of SAL Steel Limited. This circular updates the previous schedule communicated on November 26, 2025, with new obligation download and settlement dates while maintaining the same trading period.
Key Points
- Settlement Type: X
- Settlement Number: 2025127
- Trading Period: November 28, 2025 to December 11, 2025 (unchanged)
- Revised Obligation Download Date: December 12, 2025
- Revised Settlement Date: December 15, 2025
- All other details from the original circular NCL/CMPT/71485 dated November 26, 2025 remain applicable
- Settlement schedule may be further revised in case of delays in acceptance details from RTA or funds pay-in by buying trading members
Regulatory Changes
No new regulatory changes introduced. This is a schedule revision for an existing tender offer process.
Compliance Requirements
- All Members, Custodians, and PCMs must note the revised settlement calendar
- Trading members must ensure timely funds pay-in to avoid further schedule revisions
- Participants should monitor for any additional schedule changes due to RTA or payment delays
Important Dates
- Trade Start Date: November 28, 2025
- Trade End Date: December 11, 2025
- Obligation Download Date: December 12, 2025 (revised)
- Settlement Date: December 15, 2025 (revised)
Impact Assessment
Market Impact: Medium - affects participants in the SAL Steel Limited takeover offer
Operational Impact: Trading members and custodians participating in this tender offer must adjust their settlement operations to align with the revised obligation download and settlement dates. The three-day extension (from the original schedule) provides additional time for processing but requires updated internal scheduling and reconciliation processes.
Contact Information:
- Toll Free: 1800 266 00 50 (Option 2)
- Email: ncl_tenderoffer@nsccl.co.in
- Fax: 022-26598269
Impact Justification
Updates settlement timeline for a specific corporate action affecting SAL Steel Limited shareholders and trading members participating in the tender offer