Description
BSE notifies reduced face values for partial redemption of Pass Through Certificates (PTCs) of India Universal Trust AL1 and AL2 series, effective September 3, 2025.
Summary
BSE has announced partial redemption of Pass Through Certificates (PTCs) issued by India Universal Trust AL1 and AL2 across three series each (A1, A2, A3). The reduced face values per PTC have been specified for each series, with amounts ranging from approximately Rs. 45 lakhs to Rs. 96 lakhs per PTC. Trading with these reduced face values will commence from September 3, 2025.
Key Points
- Six PTC series from India Universal Trust AL1 and AL2 undergoing partial redemption
- Reduced face values range from Rs. 4,525,004 to Rs. 9,632,606 per PTC
- Trading with reduced face values effective from September 3, 2025
- Affects PTCs with maturity dates between 2026-2030
- Interest rates on these PTCs range from 8.02% to 8.20%
Regulatory Changes
No regulatory changes announced. This is a routine corporate action for partial redemption of debt securities.
Compliance Requirements
- Trading members must note the reduced face values for each affected PTC series
- Trading systems must be updated to reflect new face values from September 3, 2025
- Members should ensure proper communication to clients holding these PTCs
Important Dates
- Notice Date: September 2, 2025
- Effective Date: September 3, 2025 (Trading with reduced face values)
- Reference: DR-707/2025-2026
Impact Assessment
This partial redemption primarily impacts holders of the specified PTC series. The reduction in face value indicates partial repayment of principal to PTC holders. Trading members need to update their systems to reflect the new face values. Overall market impact is limited as this affects only specific debt securities of India Universal Trust.
Impact Justification
Routine partial redemption of debt securities affecting specific PTC holders but not broader market operations