Everything You Need to Know About the Escorts Limited Open Offer

Kubota Corporation has made an Open Offer to acquire up to 3.75 crore equity shares of Escorts Limited at the price of Rs. 2000 per equity share. All the shareholders holding shares of Escorts Limited are eligible to tender shares in the open offer before the closure of tendering period. You can check the announcement from the company here.

Open Offer Schedule

Event Date
Opening date of Tendering Period March 14, 2022
Closure date of Tendering Period March 28, 2022
Credit of payment for accepted shares/credit of unaccepted shares to demat account April 11, 2022

How to tender shares in the Open Offer?

A duly filled Delivery Instruction slip (DIS) should be sent to Zerodha to transfer the shares to Kfintech Escrow Account. Once the DIS is received, Zerodha will issue the DIS acknowledgment copy via email. Applicants should then fill out the Form of Acceptance-cum-Acknowledgment (Page no. 72 from the Letter of offer) and send the duly signed copy along with all the relevant documents to the RTA.

Details of demat account to which shares have to be transferred:

Name of the Depository Participant ICICI Bank Limited
DP ID IN301348
Client ID 20200624
Depository NSDL
Mode of Instruction Off Market

For more details, please check the Letter of offer here.

For the procedure to transfer shares using DIS, please check this support article.


Do we need to fill out “Cash transfer reason”?

Talking about one section in DIS. Attached.

On the Form of acceptance on page 72, it says “Public Shareholders holding shares in demat form are not required to submit the Form of Acceptance-cumAcknowledgment to the Registrar, unless required by their respective Selling Broker.” Is just transferring the shares via DIS to their escrow account enough?

@ShubhS9 - I called kfintech and they said unless the txn is bigger than 50 lakhs or the shares are in physical form, the acceptance form is not required.

They asked me to send the DIS acknowledgement from DP and cancelled cheque copy after the off-market transfer is complete. Could you please confirm the same?

No, you don’t have to fill bank details.

Hi, can I get the list of documents required and can we do the transfer through CDSL easiest?

The transfer cannot be done through CDSL Easiest. You’ll have to send us a duly filled Delivery Instruction Slip (DIS) to transfer the shares to Kfintech Escrow Account. You can check out more details in the main post.

Yes, this is right.

Can we send DIS using esign? Or it needs to be send physically?

You’ll have to send physical copy of DIS. You can check out the process here.

So Zerodha Team please help me on this process, From what i read i need to do the below steps.
I have a joint demat account, with no DIS slips.

  • I need to first request for DIS slips using the form . Can i use the e-Sign for joint demat account?
  • After i get the DIS slips (hoping in next 7 days) i need to send the signed physical DIS slip back to Zerodha (Bangalore address) for transferring the shares.
  • Also need to send the acceptance form to registrar separately (Hyderabad address), along with cancelled cheque copy and DIS acknowledgement from Zerodha. My query, how do i get the DIS acknowledgement from Zerodha :frowning: all in next 14 days.

How we will get the acknowledgement from Zerodha?

Just last week I was able to request DIS slip using e-Sign. I received the slip within 4 days of request.

was that for a joint demat account?

No single holder account

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i do not think for joint the eSign option works, need to send the DIS request form by Post only :frowning_face:

To which address do we need to send the DIS acknowledgment and canceled cheque?

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I am a Indian Resident, holding Escorts since 2014, brought on the Stock Exchange paying STT.

  • Now since this tendering is happening off-market, Does anyone know the Tax implication of submitting shares in this Open Offer?
  • Is the 1Lakh LTCG tax free benefit available?
  • Also since the offer ends on March 28th 2022, will the tax be applicable in FY2021-22 or next FY22-23 (assuming payment happens after 31st March)?

Really will be helpful if any knowledgeable person share their opinion, thoughts. Thanks in advance.

Yes, you can esign the DIS requisition form. Both the account holders will have to esign.


When is the last date to buy the stocks for participate the Open offer?

when is last date to closer date of tender (March 28, 2022) with considering the all paper work from Zerodha ?

Is it correct that Escorts no need clearance from RBI? or are they received the clearance?