Description

BSE announces shut periods for Securities Lending and Borrowing (SLB) due to corporate actions including dividends for IRFC and Anand Rathi Wealth, and spin-offs for SKF India and Tata Motors.

Summary

BSE has announced corporate actions affecting Securities Lending and Borrowing (SLB) operations for four securities. The circular specifies shut periods during which SLB transactions will be suspended due to dividend payments and spin-off events scheduled in October 2025.

Key Points

  • Four securities are affected: Indian Railway Finance Corporation, Anand Rathi Wealth Limited, SKF India Ltd., and Tata Motors Ltd.
  • Two dividend corporate actions and two spin-off events scheduled
  • Shut periods ranging from 1-2 days will apply to each security
  • Ex-dates and record dates specified for each corporate action
  • Foreclosure dates applicable for spin-off events

Corporate Actions Details

Indian Railway Finance Corporation (IRFC)

  • Type: Dividend
  • Ex Date: October 24, 2025
  • Record Date: October 24, 2025
  • Shut Period: October 23-24, 2025

Anand Rathi Wealth Limited

  • Type: Dividend
  • Ex Date: October 17, 2025
  • Record Date: October 17, 2025
  • Shut Period: October 16-17, 2025

SKF India Ltd.

  • Type: Spin-Off
  • Ex Date: October 15, 2025
  • Record Date: October 15, 2025
  • Foreclosure Date: October 15, 2025
  • Shut Period: October 14-15, 2025

Tata Motors Ltd.

  • Type: Spin-Off
  • Ex Date: October 14, 2025
  • Record Date: October 14, 2025
  • Foreclosure Date: October 14, 2025
  • Shut Period: October 13-14, 2025

Compliance Requirements

  • Market participants must suspend SLB transactions during the specified shut periods
  • No new securities lending or borrowing contracts can be initiated for affected securities during shut periods
  • Existing SLB positions must be managed considering the shut period restrictions
  • Participants should adjust their SLB strategies around the corporate action dates

Important Dates

  • October 13-14, 2025: Tata Motors SLB shut period
  • October 14, 2025: Tata Motors ex-date and foreclosure date
  • October 14-15, 2025: SKF India SLB shut period
  • October 15, 2025: SKF India ex-date and foreclosure date
  • October 16-17, 2025: Anand Rathi Wealth SLB shut period
  • October 17, 2025: Anand Rathi Wealth ex-date
  • October 23-24, 2025: IRFC SLB shut period
  • October 24, 2025: IRFC ex-date

Impact Assessment

Market Impact: Medium - Affects SLB market liquidity for four securities during their respective shut periods. Market participants engaged in securities lending and borrowing activities must plan around these dates.

Operational Impact: SLB participants must:

  • Monitor positions in affected securities
  • Avoid initiating new SLB contracts during shut periods
  • Ensure compliance with foreclosure requirements for spin-off events
  • Adjust hedging and trading strategies accordingly

Participant Impact: Institutional investors, hedge funds, and other market participants utilizing SLB facilities for these securities need to account for temporary suspension of SLB operations during the specified periods.

Impact Justification

Affects SLB operations for four securities with scheduled shut periods. Important for market participants involved in securities lending and borrowing activities.