Description

Securities Lending and Borrowing (SLB) shut period and foreclosure dates for upcoming corporate actions including dividends and spin-offs.

Summary

BSE has announced the shut period and foreclosure dates for Securities Lending and Borrowing (SLB) activities for four securities undergoing corporate actions. The circular covers two dividend actions and two spin-off events scheduled between October 14-24, 2025.

Key Points

  • Four securities will have SLB restrictions due to upcoming corporate actions
  • Two dividend corporate actions: Indian Railway Finance Corporation and Anand Rathi Wealth Limited
  • Two spin-off corporate actions: SKF India Ltd. and Tata Motors Ltd.
  • Shut periods range from 2 days for each corporate action
  • All actions scheduled between mid-October to late October 2025

Regulatory Changes

No regulatory changes introduced. This is a standard operational notification for SLB market participants.

Compliance Requirements

  • SLB participants must not create new lending/borrowing positions during the specified shut periods
  • Foreclosure of existing SLB positions must be completed by the specified foreclosure dates
  • Market participants must ensure compliance with shut period restrictions for the affected securities

Important Dates

Tata Motors Ltd. (Spin Off)

  • Ex Date: October 14, 2025
  • Shut Period: October 13-14, 2025
  • Foreclosure Date: October 14, 2025

SKF India Ltd. (Spin Off)

  • Ex Date: October 15, 2025
  • Shut Period: October 14-15, 2025
  • Foreclosure Date: October 15, 2025

Anand Rathi Wealth Limited (Dividend)

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

Indian Railway Finance Corporation (Dividend)

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

Impact Assessment

Market Impact: Medium - Affects liquidity in the SLB segment for four securities during their respective shut periods. Participants with existing positions must plan for foreclosure.

Operational Impact: SLB participants need to adjust their lending/borrowing strategies and ensure timely foreclosure of positions. The spin-off actions for Tata Motors and SKF India may have more significant impact on SLB positions compared to routine dividend actions.

Trading Impact: No direct impact on regular equity trading. Impact is limited to the Securities Lending and Borrowing segment only.

Impact Justification

Operational notification affecting SLB participants for four securities undergoing corporate actions. Important for securities lending activities but routine procedural information.