Description

NSE Clearing announces settlement calendar for Nectar Lifesciences buyback offer with trading from Dec 31, 2025 to Jan 6, 2026 and settlement on Jan 14, 2026.

Summary

NSE Clearing Limited has issued the settlement calendar for the buyback offer under tender offer scheme by Nectar Lifesciences Limited. The trading window will be open from December 31, 2025 to January 6, 2026, with settlement scheduled for January 14, 2026. Shares must be tendered through early pay-in mechanism by 3:30 PM on the trade end date.

Key Points

  • Settlement Type X, Settlement No. 2025136
  • Trading period: December 31, 2025 to January 6, 2026
  • Obligation download: January 13, 2026
  • Final settlement date: January 14, 2026
  • Demat shares must be tendered via early pay-in mechanism for Market Type Buyback
  • Early pay-in deadline: 3:30 PM on trade end date (January 6, 2026)
  • Securities Transaction Tax (STT) will be collected on settlement day
  • Settlement schedule may be revised in case of delays from RTA or fund pay-in
  • Tender Offer Acceptance Report will detail accepted, partially accepted, and rejected orders with reason codes

Regulatory Changes

No new regulatory changes introduced. This circular implements the buyback settlement process as per existing framework referenced in circular NCL/CMPT/67751 dated April 29, 2025 and NSE/CMTR/72034 dated December 29, 2025.

Compliance Requirements

  • Members/Custodians/PCMs: Must facilitate early pay-in of shares through depository mechanism
  • Shareholders: Must submit demat shares via early pay-in well in advance for order acceptance by 3:30 PM on January 6, 2026
  • Trading Members: Must ensure timely funds pay-in to avoid settlement delays
  • All Participants: Must refer to scheme document for complete buyback offer details
  • Rejected Orders: Will be communicated through Tender Offer Acceptance Report with specific rejection codes (26 rejection reasons listed in Annexure I including signature mismatch, PAN mismatch, excess shares tendered, duplicate bids, etc.)

Important Dates

  • December 30, 2025: Circular issue date
  • December 31, 2025: Trading starts
  • January 6, 2026: Trading ends / Early pay-in deadline (by 3:30 PM)
  • January 13, 2026: Obligation download
  • January 14, 2026: Settlement date

*Note: Dates marked with asterisk may be revised if delays occur in receiving acceptance details from RTA or funds pay-in from buying members.

Impact Assessment

Market Impact: Limited to Nectar Lifesciences shareholders participating in the buyback. No broader market disruption expected.

Operational Impact: Moderate - requires coordination between members, custodians, depositories, and RTA. The 7-day trading window provides adequate time for eligible shareholders to tender shares. The early pay-in mechanism ensures settlement efficiency.

Shareholder Impact: Eligible shareholders have clear timeline to participate in the buyback offer. The comprehensive list of 26 rejection codes (Annexure I) provides transparency on potential reasons for order rejection including technical issues (signature mismatch, PAN mismatch), eligibility issues (shares not eligible as on record date, excess shares tendered), and procedural issues (duplicate bids, bidding above exit price).

Risk Factors: Settlement schedule is contingent on timely receipt of acceptance details from RTA and funds from buying members. Any delays could trigger revised settlement schedule, affecting participants’ cash flow planning.

Impact Justification

Stock-specific buyback settlement schedule affecting shareholders of Nectar Lifesciences who wish to participate in the tender offer. Limited broader market impact but operationally important for eligible participants.