Description

NSE Clearing Limited announces the settlement calendar and timings for the Offer for Sale (OFS) of shares of String Metaverse Ltd., covering order dates April 21-22, 2026 with settlements on April 22-23, 2026.

Summary

NSE Clearing Limited (NCL) has issued the settlement calendar for the Offer for Sale (OFS) of shares of String Metaverse Ltd. The OFS spans two order dates — April 21 and April 22, 2026 — with corresponding settlements on April 22 and April 23, 2026. Settlement follows existing secondary market transaction rules as per circular NCL/CMPT/67751 dated April 29, 2025.

Key Points

  • Two settlement numbers are involved: 2026073 (order date April 21) and 2026074 (order date April 22)
  • Both retail (RS) and non-retail institutional (IS) categories are covered
  • Non-retail IS series requires 100% margin with custodial confirmation by 3:30 PM on the order date; a 0% margin variant has confirmation by 7:30 AM on T+1
  • Retail (RS) category under settlement 2026074 requires 100% margin with no custodial confirmation requirement
  • Funds pay-in deadline: T+1 day by 11:00 AM
  • Securities and funds pay-out: T+1 day by 1:30 PM
  • Applicable STT and stamp duty will be collected on the respective settlement day

Regulatory Changes

No new regulatory changes introduced. This circular operationalizes the existing OFS settlement framework established under circular NCL/CMPT/67751 dated April 29, 2025, applying it specifically to the String Metaverse Ltd. OFS.

Compliance Requirements

  • Members, custodians, and PCMs must adhere to the specified settlement calendar dates and confirmation timelines
  • Custodial confirmation for non-retail IS series must be submitted by 3:30 PM on the order date (for 100% margin) or 7:30 AM on T+1 (for 0% margin)
  • Funds pay-in must be completed by 11:00 AM on T+1
  • STT and stamp duty obligations must be met on the respective settlement day
  • For queries, contact the NSE Clearing help desk at 1800 266 0050 (Option 2) or ofs_ncl@nsccl.co.in

Important Dates

  • April 21, 2026: Order date for Settlement No. 2026073 (IS non-retail series)
  • April 22, 2026: Settlement date for 2026073; also order date for Settlement No. 2026074 (RS retail and IS non-retail series)
  • April 23, 2026: Settlement date for 2026074
  • T+1 by 11:00 AM: Funds pay-in deadline
  • T+1 by 1:30 PM: Securities and funds pay-out

Impact Assessment

This circular has a medium operational impact, primarily affecting members, custodians, and PCMs participating in the String Metaverse Ltd. OFS. Participants must align their internal processes with the specified confirmation and settlement timelines to avoid penalties or settlement failures. The dual-day OFS structure with both retail and non-retail tranches requires careful coordination of margin, custodial confirmation, and pay-in obligations within tight intraday windows.

Impact Justification

Operational circular relevant to members and custodians participating in the OFS of String Metaverse Ltd.; does not represent a broad market policy change but is time-sensitive for settlement compliance.