An Auction Tender Notice is issued by BSE to the
Members informing them about the names of the scrips short or not
delivered, quantity slated for auction and the date and time of the
auction session on the BOLT. The auction for the undelivered quantities
is conducted on T+2 day between 2:00 p.m. and 2.45 p.m. (offer entry
period will be randomly closed between 2.45 p.m. to 2.46 p.m. similar
to pre open call auction order entry) for all the scrips under Compulsory
Rolling Settlements except those in "Z" group and scrips
on "trade to trade" basis which are directly closed-out.
A Member who has failed to deliver the securities of a particular
company on the pay-in day is not allowed to offer the same in auction.
The Members, who participate in the auction session, can download
the Delivery Orders in respect of the auction obligations on the same
day, if their offers are accepted. The Members are required to deliver
the shares in the Clearing House on the auction Pay-in day, i.e, T+3.
Pay-out of auction shares and funds is also done on the same day,
i.e., T+3. .