Description
BSE announcement of corporate actions including stock split and dividend declarations affecting 8 securities with SLB restrictions and shut periods.
Summary
BSE has announced corporate actions affecting Securities Lending and Borrowing (SLB) operations for 8 companies. The circular details shut periods during which SLB transactions will be restricted due to corporate actions including one stock split (BEML Ltd) and seven dividend declarations. These restrictions ensure proper settlement and prevent complications during record date periods.
Key Points
- 8 securities subject to SLB restrictions due to corporate actions
- BEML Ltd undergoing stock split with ex-date November 3, 2025
- 7 companies declaring dividends with ex-dates ranging from October 15-17, 2025 and November 7, 2025
- Shut periods established for each corporate action to prevent SLB conflicts
- Record dates and book closure dates align with ex-dates for all securities
Regulatory Changes
No regulatory changes introduced. This circular implements existing SLB framework guidelines for corporate action periods.
Compliance Requirements
- Market participants must observe shut periods for SLB transactions in affected securities
- No new SLB positions can be created during shut periods
- Existing SLB positions must be squared off before shut period commencement or will be subject to foreclosure provisions
- Brokers and clearing members must ensure clients are aware of SLB restrictions during corporate action periods
Important Dates
BEML Ltd (Stock Split)
- Ex-Date: November 3, 2025
- Record Date: November 3, 2025
- Shut Period: October 31, 2025 to November 3, 2025
Tata Consultancy Services Ltd (Dividend)
- Ex-Date: October 15, 2025
- Record Date: October 15, 2025
- Shut Period: October 14, 2025 to October 15, 2025
Elecon Engineering Co. Ltd (Dividend)
- Ex-Date: October 16, 2025
- Record Date: October 16, 2025
- Shut Period: October 15, 2025 to October 16, 2025
HCL Technologies Ltd (Dividend)
- Ex-Date: October 17, 2025
- Record Date: October 17, 2025
- Shut Period: October 16, 2025 to October 17, 2025
Anand Rathi Wealth Limited (Dividend)
- Ex-Date: October 17, 2025
- Record Date: October 17, 2025
- Shut Period: October 16, 2025 to October 17, 2025
Kajaria Ceramics Ltd (Dividend)
- Ex-Date: October 24, 2025
- Record Date: October 24, 2025
- Shut Period: October 23, 2025 to October 24, 2025
CRISIL Ltd (Dividend)
- Ex-Date: October 27, 2025
- Record Date: October 27, 2025
- Shut Period: October 24, 2025 to October 27, 2025
Aptus Value Housing Finance India Limited (Dividend)
- Ex-Date: November 7, 2025
- Record Date: November 7, 2025
- Shut Period: November 6, 2025 to November 7, 2025
Impact Assessment
Market Operations Impact: Medium - SLB participants must plan position management around shut periods. The staggered dates across October-November reduce concentrated market impact.
Liquidity Impact: Low to Medium - Temporary restriction on SLB availability may affect short-selling strategies and securities lending revenue during shut periods, though short duration limits impact.
Investor Impact: High-profile companies including TCS, HCL Technologies, and CRISIL are included, affecting institutional investors and arbitrage strategies that rely on SLB mechanisms.
Operational Impact: Market participants must monitor multiple dates across different securities to ensure compliance with shut period restrictions and avoid potential penalties or forced closeouts.
Impact Justification
Affects 8 securities with SLB restrictions; includes 1 stock split and 7 dividend declarations with specific shut periods for Securities Lending and Borrowing operations