Description

BSE suspends trading in 14 commercial papers from multiple issuers including Kotak Mahindra Prime, Mankind Pharma, Tata Steel, and others due to upcoming redemptions between October 14-21, 2025.

Summary

BSE has issued Notice No. 20251009-61 announcing the suspension of trading in 14 commercial papers issued by various companies due to upcoming redemptions. The suspensions are effective from the respective record dates set between October 14-21, 2025. Trading members are advised not to deal in these commercial papers from the specified no-dealings dates.

Key Points

  • 14 commercial papers from multiple issuers will have trading suspended
  • Suspensions are due to record dates fixed for redemption purposes
  • First suspension effective October 14, 2025 (Kotak Mahindra Prime Limited)
  • Majority of suspensions effective October 16-17, 2025
  • Issuers include financial services, pharmaceutical, steel, and telecommunications companies
  • Each security has a unique ISIN code and BSE scrip code
  • Trading members must not deal in these securities from the no-dealings date

Regulatory Changes

No regulatory changes. This is a standard operational notice for commercial paper redemptions in the debt market segment.

Compliance Requirements

  • Trading members must cease all dealings in the listed commercial papers from the specified no-dealings dates
  • Trading members must ensure client orders are not executed for these securities after suspension dates
  • Market participants must note the record dates for redemption purposes

Important Dates

October 14, 2025:

  • Kotak Mahindra Prime Limited (KMPL-15-10-25-CP) - Record Date and No Dealings From

October 16, 2025:

  • Mankind Pharma Limited (MPL-17-10-25-CP)
  • Tata Steel Limited (TSL-17-10-25-CP)
  • CNH Industrial Capital (India) Private Limited (CICPL-17-10-25-CP)
  • Kotak Mahindra Investments Limited (KMIL-17-10-25-CP)
  • Kotak Mahindra Prime Limited (KMPL-17-10-25-CP)

October 17, 2025:

  • Aarti Industries Ltd (AIL-20-10-25-CP)
  • Reliance Jio Infocomm Limited (RJIL-20-10-25-CP)
  • IGH Holdings Private Limited (IHPL-21-10-25-CP)
  • Bajaj Housing Finance Limited (BHFL-20-10-25-CP)
  • Julius Baer Capital (India) Private Limited (JBCIPL-20-10-25-CP)
  • Bajaj Financial Securities Limited (BFSL-20-10-25-CP)
  • Aditya Birla Housing Finance Limited (ABHFL-20-10-25-CP)
  • Tata Housing Development Company Limited (THDCL-20-10-25-CP)

Impact Assessment

Market Impact: Medium - affects 14 commercial paper instruments in the debt segment from major corporate issuers.

Operational Impact: Routine administrative action with no systemic implications. Trading members need to update their systems to block trading in these securities.

Investor Impact: Investors holding these commercial papers will receive redemption proceeds on maturity. No trading opportunity from the suspension dates until redemption.

Sector Coverage: Multiple sectors affected including financial services (Kotak Mahindra, Bajaj, Aditya Birla), pharmaceuticals (Mankind Pharma), steel (Tata Steel), telecommunications (Reliance Jio), and chemicals (Aarti Industries).

Liquidity Impact: Limited, as commercial papers are typically held to maturity and have lower secondary market trading volumes compared to other debt instruments.

Impact Justification

Routine trading suspension for commercial paper redemptions affecting 14 securities from major corporate issuers. Standard market operation with limited broader impact.