Description

Notification of reduced face values for six series of Pass Through Certificates (PTCs) of 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 from October 9, 2025, and range from approximately Rs. 40.23 lakh to Rs. 95.92 lakh per PTC depending on the series.

Key Points

  • Six PTC series affected across India Universal Trust AL1 and AL2
  • Reduced face values vary significantly by series and maturity date
  • Trading with new face values begins October 9, 2025
  • Notice issued by Catalyst Trusteeship Limited as trustee
  • Trading members required to note changes for trading purposes

Regulatory Changes

No new regulatory changes introduced. This is a notification of corporate action (partial redemption) affecting existing debt securities.

Compliance Requirements

  • Trading members must update systems to reflect new reduced face values
  • PTCs to be traded with revised face values from October 9, 2025
  • All trading members required to take note of these changes

Important Dates

  • Notice Date: October 8, 2025
  • Effective Date for Trading: October 9, 2025
  • Maturity Dates: Vary by series (September 2026, July 2027, September 2030, November 2026, November 2027, November 2030)

Impact Assessment

Market Impact: Medium - affects specific debt instrument holders across six PTC series with material changes to face values.

Operational Impact: Trading members must update their systems to reflect the new face values. The partial redemption significantly reduces the face value of these instruments, which will affect pricing, valuations, and trading parameters.

Investor Impact: PTC holders will see reduced face values per certificate following partial redemption:

  • AL1 Series A1: Rs. 4,022,729.81 per PTC
  • AL1 Series A2: Rs. 8,547,191.27 per PTC
  • AL1 Series A3: Rs. 9,305,880.08 per PTC
  • AL2 Series A1: Rs. 5,024,023.04 per PTC
  • AL2 Series A2: Rs. 8,000,723.54 per PTC
  • AL2 Series A3: Rs. 9,591,616.71 per PTC

The partial redemption represents a return of principal to investors while the certificates remain outstanding until their respective maturity dates.

Impact Justification

Affects specific debt instrument holders with significant face value reductions across six PTC series. Material impact for PTC holders but limited to specific debt securities.