Description
Settlement schedule and timings for the Offer for Sale (OFS) of Indian Overseas Bank shares, including settlement numbers, margin categories, and payment timelines.
Summary
NSE Clearing Limited has released the settlement calendar for the Offer for Sale of Indian Overseas Bank shares. The circular specifies settlement numbers, margin categories (100% and 0%), series types (retail and non-retail institutional), and custodial confirmation requirements for orders placed on December 17-18, 2025. Settlement follows existing secondary market transaction rules with T+1 settlement cycle.
Key Points
- Settlement follows existing rules for secondary market transactions as per circular NCL/CMPT/67751 dated April 29, 2025
- Multiple settlement numbers (2025206 and 2025207) with different margin requirements
- Separate settlement processes for retail (RS) and institutional non-retail (IS) categories
- Custodial confirmation required for institutional non-retail orders with specific deadlines
- Securities transaction tax (STT) and stamp duty collected on respective settlement day
Settlement Schedule
Settlement 2025206 (Order Date: December 17, 2025)
- 100% Margin IS (non-retail): Custodial confirmation by 03:30 PM on Dec 17, Settlement on Dec 18
- 0% Margin IS (non-retail): Custodial confirmation by 07:30 AM on Dec 18, Settlement on Dec 18
Settlement 2025207 (Order Date: December 18, 2025)
- 100% Margin RS (Retail): No custodial confirmation required, Settlement on Dec 19
- 100% Margin IS (non-retail): Custodial confirmation by 03:30 PM on Dec 18, Settlement on Dec 19
- 0% Margin IS (non-retail): Custodial confirmation by 07:30 AM on Dec 19, Settlement on Dec 19
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 specified custodial confirmation deadlines for institutional non-retail orders
- Retail settlement does not require custodial confirmation
- Funds must be paid in by 11:00 AM on T+1 day
- STT and stamp duty will be collected on respective settlement dates
Important Dates
- December 17, 2025: Order date for Settlement 2025206; custodial confirmations due by 03:30 PM (100% margin)
- December 18, 2025: Settlement date for 2025206; Order date for Settlement 2025207; custodial confirmations due by 07:30 AM (0% margin from Dec 17) and 03:30 PM (100% margin from Dec 18)
- December 19, 2025: Settlement date for 2025207; custodial confirmations due by 07:30 AM (0% margin from Dec 18)
Impact Assessment
This circular provides operational guidance for participants in the Indian Overseas Bank OFS. The differentiated settlement process between retail and institutional investors, along with varying margin requirements and custodial confirmation timelines, requires careful attention from trading members and custodians to ensure timely settlement. The T+1 settlement cycle aligns with secondary market standards. Contact details provided: Help desk at 1800 266 0050 (Option 2) or ofs_ncl@nsccl.co.in for queries.
Impact Justification
Important for participants in Indian Overseas Bank OFS with specific settlement timelines and procedures, but affects only those involved in this specific offering