Description
Settlement calendar and timings for the Offer for Sale of shares of Timex Group India Ltd. scheduled for December 29-30, 2025.
Summary
NSE Clearing Limited has announced the settlement calendar for the Offer for Sale (OFS) of shares of Timex Group India Ltd. scheduled for December 29-30, 2025. The settlement will follow existing rules for secondary market transactions with specific timings for different investor categories (retail and non-retail).
Key Points
- Settlement follows existing secondary market transaction rules
- Two order dates: December 29 and 30, 2025
- Separate settlement numbers: 2025213 and 2025214
- Different margin categories: 100% and 0% for institutional non-retail; 100% for retail
- Funds pay-in deadline: T+1 day by 11:00 AM
- Securities and funds pay-out: T+1 day by 01:30 PM
- Securities Transaction Tax (STT) and stamp duty applicable on settlement day
Regulatory Changes
No new regulatory changes introduced. This circular implements existing secondary market settlement rules for the OFS transaction.
Compliance Requirements
For Members/Custodians/PCMs:
- Adhere to specified settlement calendar timings
- Ensure custodial confirmation by specified deadlines (varies by category)
- Complete funds pay-in by T+1 day 11:00 AM
- Note that STT and stamp duty will be collected on respective settlement days
Settlement Schedule Details:
December 29, 2025 Orders (Settlement 2025213):
- IS (non-retail) 100%: Custodial confirmation by 3:30 PM same day, settlement on Dec 30
- IS (non-retail) 0%: Custodial confirmation by 7:30 AM Dec 30, settlement on Dec 30
December 30, 2025 Orders (Settlement 2025214):
- RS (Retail) 100%: No custodial confirmation required, settlement on Dec 31
- IS (non-retail) 100%: Custodial confirmation by 3:30 PM same day, settlement on Dec 31
- IS (non-retail) 0%: Custodial confirmation by 7:30 AM Dec 31, settlement on Dec 31
Important Dates
- December 26, 2025: Circular issued
- December 29, 2025: First order date for institutional non-retail categories
- December 30, 2025: Second order date (retail and institutional non-retail); Settlement date for Dec 29 orders
- December 31, 2025: Settlement date for Dec 30 orders
- Funds Pay-in: T+1 day by 11:00 AM
- Pay-out: T+1 day by 01:30 PM
Impact Assessment
Market Impact: Medium - affects participants in Timex Group India OFS only
Operational Impact: Medium - requires members and custodians to follow specific timelines for different investor categories with tight custodial confirmation deadlines (some as early as 7:30 AM)
Participant Groups Affected:
- All NSE members participating in the OFS
- Custodians handling institutional orders
- Professional Clearing Members (PCMs)
- Retail and institutional investors in Timex Group India OFS
Reference: This circular refers to NCL/CMPT/67751 dated April 29, 2025 for the underlying OFS framework.
Contact: For queries, participants can contact the help desk at 1800 266 0050 (Option 2) or email ofs_ncl@nsccl.co.in
Impact Justification
Operational circular providing settlement details for specific OFS transaction. Important for participants in Timex Group India OFS but limited broader market impact.