Description
India Universal Trust announces partial redemption with reduced face values for AL1 and AL2 Pass Through Certificates across Series A1, A2, and A3.
Summary
India Universal Trust has announced partial redemption of Pass Through Certificates (PTCs) for AL1 and AL2 trusts across Series A1, A2, and A3. The redemption involves substantial reductions in face values per PTC, with the new reduced face values becoming effective for trading from September 3, 2025.
Key Points
- Six different PTC series affected across India Universal Trust AL1 and AL2
- Reduced face values range from Rs. 4,525,004.17 to Rs. 9,632,605.80 per PTC
- Trading with reduced face values effective from September 3, 2025
- Reference number: DR-707/2025-2026
Regulatory Changes
No regulatory changes announced. This is a standard corporate action notification for partial redemption of debt securities.
Compliance Requirements
- Trading members must update their systems to reflect the new reduced face values
- Members required to take note and ensure proper valuation in trading systems
- Compliance with updated face values mandatory from September 3, 2025
Important Dates
- Notice Date: September 2, 2025
- Effective Date: September 3, 2025 (Trading with reduced face values)
Impact Assessment
The partial redemption significantly reduces the face value of affected PTCs, impacting holders’ portfolio valuations. Trading members must adjust their systems to accommodate the new face values to ensure accurate pricing and settlement. The redemption affects six different PTC series with maturity dates ranging from 2026 to 2030, requiring immediate attention from all market participants holding or trading these securities.
Impact Justification
Significant face value reductions for PTC holders requiring portfolio adjustments