Description

NSE Clearing announces settlement calendar for the Offer for Sale of IndiGrid Infrastructure Trust units scheduled for February 5-6, 2026, with detailed settlement timings and margin requirements.

Summary

NSE Clearing Limited has issued the settlement calendar for the Offer for Sale (OFS) of units in IndiGrid Infrastructure Trust. The OFS will occur on February 5-6, 2026, with settlements following existing secondary market transaction rules. The circular specifies settlement numbers, margin categories, order dates, custodial confirmation requirements, and settlement dates for both retail and non-retail categories.

Key Points

  • Settlement follows existing secondary market transaction rules as per circular NCL/CMPT/67751 dated April 29, 2025
  • Two settlement cycles: Settlement No. 2026025 (Feb 5) and Settlement No. 2026026 (Feb 6)
  • Multiple margin categories: 100% and 0% for institutional (non-retail), 100% for retail
  • Retail category (RS) settlement on T+3, non-retail institutional (IS) on T+1
  • Custodial confirmation required for non-retail categories with specific timing deadlines
  • Securities Transaction Tax (STT) and stamp duty applicable on respective settlement days

Settlement Schedule Details

Settlement No. 2026025 (February 5, 2026)

  • 100% Margin (IS non-retail): Order Date: Feb 5, Custodial Confirmation: Feb 5 by 3:30 PM, Settlement: Feb 6
  • 0% Margin (IS non-retail): Order Date: Feb 5, Custodial Confirmation: Feb 6 by 7:30 AM, Settlement: Feb 6

Settlement No. 2026026 (February 6, 2026)

  • 100% Margin (RS Retail): Order Date: Feb 6, No custodial confirmation required, Settlement: Feb 9
  • 100% Margin (IS non-retail): Order Date: Feb 6, Custodial Confirmation: Feb 6 by 3:30 PM, Settlement: Feb 9
  • 0% Margin (IS non-retail): Order Date: Feb 6, Custodial Confirmation: Feb 9 by 7:30 AM, Settlement: Feb 9

Settlement Timing

  • 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 ensure custodial confirmations are submitted by specified deadlines
  • Funds pay-in must be completed by 11:00 AM on T+1 day
  • STT and stamp duty obligations must be met on respective settlement days
  • Adherence to existing secondary market settlement rules

Important Dates

  • February 5, 2026: OFS order date for Settlement No. 2026025
  • February 6, 2026: Settlement date for 2026025; OFS order date for Settlement No. 2026026
  • February 9, 2026: Settlement date for Settlement No. 2026026

Impact Assessment

This circular has medium operational impact limited to participants in the IndiGrid Infrastructure Trust OFS. Members and custodians dealing with this specific OFS must ensure compliance with the specified settlement calendar and timing requirements. The differentiated margin requirements (100% vs 0%) and confirmation timings create operational complexities that require careful coordination. Contact details provided: Phone 1800 266 0050 (Option 2), Email: ofs_ncl@nsccl.co.in for queries.

Impact Justification

Operational circular providing settlement schedule for specific OFS transaction affecting IndiGrid Infrastructure Trust participants