Description

BSE announces corporate actions for SLB securities including dividends for Indian Railway Finance Corporation and Anand Rathi Wealth Limited, and spin-offs for SKF India Ltd. and Tata Motors Ltd.

Summary

BSE has announced corporate actions for four securities in the Securities Lending and Borrowing (SLB) segment. The circular details dividend distributions for Indian Railway Finance Corporation and Anand Rathi Wealth Limited, along with spin-off events for SKF India Ltd. and Tata Motors Ltd. Each action includes specific ex-dates, record dates, and shut periods for trading.

Key Points

  • Indian Railway Finance Corporation: Dividend with record date October 24, 2025
  • Anand Rathi Wealth Limited: Dividend with record date October 17, 2025
  • SKF India Ltd.: Spin-off event on October 15, 2025
  • Tata Motors Ltd.: Spin-off event on October 14, 2025
  • All events include shut periods during which SLB transactions will be restricted

Regulatory Changes

No regulatory changes announced. This is a disclosure circular informing market participants of scheduled corporate actions.

Compliance Requirements

  • Market participants must account for shut periods when planning SLB transactions
  • Trading members should ensure clients are aware of ex-dates for entitlement determination
  • Settlement obligations must be managed around foreclosure dates for spin-off events
  • All corporate action adjustments must be reflected in positions and accounts

Important Dates

  • October 14, 2025: Ex-date and foreclosure date for Tata Motors spin-off; shut period October 13-14
  • October 15, 2025: Ex-date and foreclosure date for SKF India spin-off; shut period October 14-15
  • October 17, 2025: Ex-date and record date for Anand Rathi Wealth dividend; shut period October 16-17
  • October 24, 2025: Ex-date and record date for Indian Railway Finance Corporation dividend; shut period October 23-24

Impact Assessment

Market Impact: Medium - Affects SLB segment operations for four major securities. The spin-off events for Tata Motors and SKF India are particularly significant as they involve corporate restructuring that will impact derivative positions and borrowing-lending arrangements.

Operational Impact: Market participants with open SLB positions in these securities must manage their positions around the foreclosure dates for spin-offs and adjust for dividend entitlements. The shut periods will temporarily restrict new SLB transactions in these securities, potentially affecting liquidity and trading strategies.

Investor Impact: Investors with long positions on record dates will be entitled to dividends. Those involved in SLB arrangements must understand how spin-off events affect their borrowed/lent securities and ensure proper settlement.

Impact Justification

Affects multiple securities in SLB segment with upcoming corporate actions including dividends and spin-offs that impact trading and settlement