Description

NSE Clearing publishes settlement schedule for Offer for Sale (OFS) of Aanchal Ispat Ltd. shares with details of settlement types, dates, and timings for retail and non-retail categories.

Summary

NSE Clearing Limited has issued the settlement calendar for the Offer for Sale (OFS) of shares of Aanchal Ispat Ltd. The circular references NCL/CMPT/67751 dated April 29, 2025, and confirms that OFS settlement will follow existing rules for secondary market transactions. The settlement schedule covers both retail (RS) and non-retail (IS) categories with specific margin requirements and custodial confirmation timelines.

Key Points

  • Settlement follows existing secondary market transaction rules
  • Five separate settlements scheduled between February 3-5, 2026
  • Non-retail (IS) category includes both 100% and 0% margin settlements
  • Retail (RS) category operates with 100% margin
  • Custodial confirmation required for non-retail institutional settlements
  • Securities Transaction Tax (STT) and stamp duty collected on respective settlement days
  • Standard T+1 settlement timing applies

Settlement Schedule Details

Settlement 2026023:

  • Non-retail (IS) 100% margin: Order date Feb 3, Settlement date Feb 4
  • Custodial confirmation: Feb 3 by 3:30 PM
  • Non-retail (IS) 0% margin: Order date Feb 3, Settlement date Feb 4
  • Custodial confirmation: Feb 4 by 7:30 AM

Settlement 2026024:

  • Retail (RS) 100% margin: Order date Feb 4, Settlement date Feb 5
  • No custodial confirmation required
  • Non-retail (IS) 100% margin: Order date Feb 4, Settlement date Feb 5
  • Custodial confirmation: Feb 4 by 3:30 PM
  • Non-retail (IS) 0% margin: Order date Feb 4, Settlement date Feb 5
  • Custodial confirmation: Feb 5 by 7:30 AM

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 specified settlement calendar
  • Custodial confirmations must be submitted by designated times for institutional (non-retail) orders
  • STT and stamp duty obligations must be met on respective settlement dates
  • Funds pay-in deadline of 11:00 AM on T+1 must be observed

Important Dates

  • February 3, 2026: First order date for non-retail category
  • February 4, 2026: First settlement date and second order date
  • February 5, 2026: Final settlement date for all categories
  • Custodial confirmation deadlines: 3:30 PM (same day) or 7:30 AM (next day) depending on margin category

Impact Assessment

Operational Impact: Medium - This circular affects members, custodians, and Portfolio Custodial Managers (PCMs) participating in the Aanchal Ispat Ltd. OFS. The staggered settlement schedule across multiple days requires careful operational coordination.

Market Impact: Medium - The OFS provides liquidity for Aanchal Ispat shares with separate retail and institutional windows. The differentiated margin requirements (0% and 100%) for non-retail participants may influence bidding strategies.

Compliance Impact: The standard T+1 settlement cycle applies with specific custodial confirmation requirements for institutional participants. Failure to meet confirmation deadlines or pay-in timings could result in settlement failures.

Contact Information

  • Help Desk: 1800 266 0050 (Option 2)
  • Email: ofs_ncl@nsccl.co.in
  • Issued by: Satish Jathan, Vice President, NSE Clearing Limited

Impact Justification

Operational circular specifying settlement procedures for OFS transactions of a specific company, relevant for members and custodians participating in the OFS