PIYUSH - Stock Market Circularshttps://rhnvrm.github.io/stock-market-circulars/stocks/piyush/Regulatory circulars from NSE, BSE, and SEBI with AI-powered summariesHugo -- gohugo.ioen-usWed, 06 May 2026 00:00:00 +0000Voluntary Delisting of Equity Shares of PIYUSH LIMITED - Offer to Buy Window Openshttps://rhnvrm.github.io/stock-market-circulars/circulars/bse/2026/bse-2026-05-06-772d6072c4a1fd00-opening-of-offer-to-buy-acquisition-window-delisting-of-voluntary-delisting-of-e/Wed, 06 May 2026 13:29:17 +0000https://rhnvrm.github.io/stock-market-circulars/circulars/bse/2026/bse-2026-05-06-772d6072c4a1fd00-opening-of-offer-to-buy-acquisition-window-delisting-of-voluntary-delisting-of-e/BSE announces opening of Offer to Buy (Acquisition Window) for voluntary delisting of equity shares of PIYUSH LIMITED via Reverse Book-Building Process, running May 12–18, 2026.bsetradingmediummediummedium772d6072c4a1fd00https://www.bseindia.com/downloads/UploadDocs/Notices/20260506-24/20260506-24.pdfPIYUSHdelistingvoluntary-delistingacquisition-windowreverse-book-buildingoffer-to-buyequitypiyush-limitedtender-offerSummary

BSE has announced the opening of the Offer to Buy (Acquisition Window) for the voluntary delisting of equity shares of PIYUSH LIMITED. The acquirer, Piyush Goenka, is seeking to delist the company from stock exchanges through a Reverse Book-Building Process (RBBP) at a floor price of Rs. 668 per equity share. The offer window is open from May 12 to May 18, 2026.

Key Points

  • Acquirer: Piyush Goenka
  • Target Company: PIYUSH LIMITED (also referred to as IFPEL)
  • Total shares targeted: 10,490 equity shares (2.13% of total equity share capital) held by public shareholders
  • Floor price: Rs. 668 (Rupees Six Hundred Sixty-Eight Only) per equity share
  • Mechanism: Reverse Book-Building Process (RBBP)
  • PIYUSH LIMITED is currently listed only on The Calcutta Stock Exchange Limited (CSE)
  • Letter of Offer is attached and available on the BSE website

Regulatory Changes

No new regulatory changes introduced. The offer is governed by:

  • SEBI circular CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015
  • SEBI circular CFD/DCR2/CIR/P/2016/131 dated December 9, 2016
  • BSE revised guidelines (notices 20170210-16, 20190207-23, 20200528-32, 20201102-43)
  • Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021

Compliance Requirements

  • Trading Members and Custodians must note the Offer to Buy window and facilitate participation for eligible public shareholders
  • Market participants should refer to the Letter of Offer (attached to the notice) for detailed terms and conditions
  • Participants must follow the BSE mechanism for acquisition of shares through Stock Exchange pursuant to tender offers under delisting regulations

Important Dates

  • Notice Date: May 6, 2026
  • Offer to Buy Window Opens: Tuesday, May 12, 2026
  • Offer to Buy Window Closes: Monday, May 18, 2026

Impact Assessment

The impact is limited and company-specific. Only 10,490 shares (2.13% of equity share capital) held by public shareholders are targeted, making this a small-scale delisting event. The company is primarily listed on the Calcutta Stock Exchange (CSE), with BSE serving as the acquisition mechanism platform. Trading members and custodians with clients holding PIYUSH LIMITED shares should inform them of the offer window and floor price of Rs. 668 per share. Broader market impact is negligible.

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