Description

Reduced face values announced for six series of Pass Through Certificates (PTCs) issued by India Universal Trust AL1 and AL2 following partial redemption, effective October 9, 2025.

Summary

Catalyst Trusteeship Limited has informed BSE of reduced face values for six series of Pass Through Certificates (PTCs) issued by India Universal Trust AL1 and AL2 following partial redemption. The new reduced face values will be effective for trading from October 9, 2025. All six series show substantial reductions in face value per PTC, ranging from approximately Rs. 40 lakh to Rs. 95 lakh per certificate.

Key Points

  • Six PTC series affected across India Universal Trust AL1 and AL2
  • Reduced face values effective from October 9, 2025
  • Trading members must update systems to reflect new face values
  • Notice reference: DR-732/2025-2026
  • Notification issued by Catalyst Trusteeship Limited

PTC Details and Reduced Face Values

India Universal Trust AL1 Series:

  • Series A1 (IUTA1-8.02%-20-9-26-PTC, INE16J715019, Scrip Code: 976050): Rs. 4,022,729.81 per PTC
  • Series A2 (IUTA1-8.12%-20-7-27-PTC, INE16J715027, Scrip Code: 976051): Rs. 8,547,191.27 per PTC
  • Series A3 (IUTA1-8.20%-20-9-30-PTC, INE16J715035, Scrip Code: 976052): Rs. 9,305,880.08 per PTC

India Universal Trust AL2 Series:

  • Series A1 (IUTAL2-8.03%-21-11-26-PTC, INE1CBK15011, Scrip Code: 976206): Rs. 5,024,023.04 per PTC
  • Series A2 (IUTAL2-8.09%-21-11-27-PTC, INE1CBK15029, Scrip Code: 976207): Rs. 8,000,723.54 per PTC
  • Series A3 (IUTAL2-8.17%-21-11-30-PTC, INE1CBK15037, Scrip Code: 976208): Rs. 9,591,616.71 per PTC

Regulatory Changes

No regulatory framework changes. This is a standard corporate action notification for partial redemption of debt instruments.

Compliance Requirements

  • Trading members must update their systems to reflect the reduced face values for all six PTC series
  • All trading in these PTCs from October 9, 2025 onwards must use the new reduced face values
  • Trading members are required to take note of the changes and ensure proper valuation in client portfolios

Important Dates

  • Notice Date: October 8, 2025
  • Effective Date for Trading: October 9, 2025

Impact Assessment

Market Impact: Medium - affects specific institutional debt market participants holding these PTCs. The partial redemption results in significant face value changes that impact portfolio valuations.

Operational Impact: Trading members must update trading and settlement systems to reflect new face values. Clients holding these instruments will see reduced face values but should have received corresponding redemption proceeds.

Investor Impact: PTC holders receive partial redemption proceeds while retaining certificates with reduced face values. Remaining cash flows and yields are adjusted proportionally to the new face values.

Impact Justification

Affects specific debt instrument holders with significant face value changes but limited to institutional PTC investors. Trading members must update systems for new face values.