Description

BSE announces partial redemption and reduced face values for six PTC series of India Universal Trust AL1 and AL2, effective September 3, 2025.

Summary

BSE has announced the partial redemption of Pass Through Certificates (PTCs) for India Universal Trust AL1 and AL2 across six series (A1, A2, A3 for each trust). The redemption involves substantial reductions in face values per PTC, ranging from approximately ₹45.25 lakhs to ₹96.33 lakhs depending on the series. These reduced face values will be effective for trading from September 3, 2025.

Key Points

  • Six PTC series affected: three from India Universal Trust AL1 and three from AL2
  • Face value reductions range from ₹4,525,004.17 to ₹9,632,605.80 per PTC
  • Trading with reduced face values commences September 3, 2025
  • Notice reference: DR-707/2025-2026
  • All affected PTCs are debt segment securities

Regulatory Changes

No regulatory framework changes announced. This is a standard corporate action notification for partial redemption of debt securities in accordance with existing regulations.

Compliance Requirements

  • Trading members must update their systems to reflect the new reduced face values
  • All trading in these PTCs from September 3, 2025 must be conducted at the revised face values
  • Members are required to take note of the changes and inform relevant stakeholders

Important Dates

  • Notice Date: September 2, 2025
  • Effective Date: September 3, 2025 (Trading with reduced face values)
  • Maturity Dates: Various (ranging from 2026 to 2030 depending on series)

Impact Assessment

The partial redemption represents a significant corporate action affecting PTC holders of India Universal Trust AL1 and AL2. The substantial reduction in face values (ranging from approximately 45% to 96% of original values) indicates major principal repayments to investors. Trading members will need to adjust their positions and valuations accordingly. This affects liquidity and pricing in the secondary market for these specific PTCs but has limited broader market impact as it concerns only six specific debt securities.

Impact Justification

Affects specific PTC holders with significant face value reductions, requires trading adjustments