Description
NSE Clearing Limited announces the settlement calendar for the Takeover offer under Tender Offer scheme of Indo Borax and Chemicals Limited, with trading window from April 10 to April 24, 2026.
Summary
NSE Clearing Limited (NCL) has published the settlement calendar for the Takeover offer under the Tender Offer scheme of Indo Borax and Chemicals Limited (Settlement No. 2026031). The circular provides key dates, operational instructions for demat share tendering, and a comprehensive list of rejection codes applicable to tender offer orders.
Key Points
- Settlement Type X, Settlement No. 2026031 has been assigned for this takeover offer
- Trading window opens April 10, 2026 and closes April 24, 2026
- Obligation download scheduled for May 8, 2026; Settlement Date on May 11, 2026
- Demat shares must be tendered via Early Pay-in mechanism of depositories under Market Type Buyback
- On trade end date, Early Pay-in of shares must be completed well before 3:30 PM
- Securities and Funds pay-out will be made post receipt of pay-in of funds on Settlement Day
- Tender Offer Acceptance Report will detail accepted, partially accepted, and rejected orders with reason codes
- Applicable Securities Transaction Tax (STT) will be collected on respective settlement day
- Settlement schedule may be revised by Clearing Corporation in case of delays from RTA or funds pay-in
Regulatory Changes
No new regulatory changes introduced. This circular operationalizes the framework established under circular NCL/CMPT/67751 dated April 29, 2025 and circular NSE/CMTR/73651 dated April 08, 2026 for the Indo Borax and Chemicals Limited takeover offer.
Compliance Requirements
- Members must tender demat shares exclusively through the Early Pay-in mechanism of depositories for Market Type Buyback
- Early Pay-in of shares on the trade end date (April 24, 2026) must be completed well in advance, before order acceptance cut-off of 3:30 PM
- Members must ensure timely funds pay-in on Settlement Day (May 11, 2026) to receive securities and funds pay-out
- Members should review the Tender Offer Acceptance Report for accepted, partially accepted, and rejected orders
- Members must refer to the scheme document (circular NCL/CMPT/67751 and NSE/CMTR/73651) for complete details
- For queries, members should contact the help desk: Toll Free 1800 266 00 50 (Option 2) or ncl_tenderoffer@nsccl.co.in
Important Dates
| Event | Date |
|---|---|
| Trade Start Date | April 10, 2026 |
| Trade End Date | April 24, 2026 |
| Early Pay-in Cut-off (Trade End Date) | 3:30 PM on April 24, 2026 |
| Obligation Download | May 8, 2026 |
| Settlement Date | May 11, 2026 |
Impact Assessment
This circular has a moderate operational impact on members, custodians, and PCMs participating in the Indo Borax and Chemicals Limited takeover offer. Members must adhere to the prescribed settlement calendar and operational procedures, including the Early Pay-in mechanism. The 26-rejection-code annexure (codes 01–26) covering scenarios from signature mismatches to PAN mismatches provides clarity on order rejection reasons, reducing disputes. The settlement schedule is subject to revision in case of delays from the RTA or buying trading member funds pay-in, so members should monitor for any revised schedule notifications from NCL.
Impact Justification
Operationally significant for members participating in the Indo Borax and Chemicals takeover tender offer; provides mandatory settlement dates and procedural instructions but limited to a specific offer with defined participation.