Description
BSE suspends trading in commercial paper of 12 companies due to upcoming redemption, with record dates between October 23-26, 2025.
Summary
BSE has issued Notice No. 20251016-29 suspending trading in commercial paper of 12 companies effective from October 23-24, 2025. The suspensions are due to scheduled redemptions with record dates falling between October 23-26, 2025. Trading members are advised not to deal in the specified commercial papers from the “no dealings” dates.
Key Points
- 12 companies have fixed record dates for commercial paper redemption
- Trading suspension affects debt segment instruments
- First suspension starts October 23, 2025 (ECL Finance Limited)
- Majority of suspensions (11 out of 12) effective from October 24, 2025
- Record dates range from October 23-26, 2025
- Each company issued under different ISIN codes and reference numbers
Affected Entities
Companies with Trading Suspension:
- ECL Finance Limited (INE804I14XZ2) - Record: Oct 23, No dealings: Oct 23
- Navi Finserv Limited (INE342T14DG2) - Record: Oct 26, No dealings: Oct 24
- Axis Securities Limited (INE110O14GA0) - Record: Oct 24, No dealings: Oct 24
- Mirae Asset Financial Services (India) Private Limited (INE0JRU14230) - Record: Oct 24, No dealings: Oct 24
- Bajaj Financial Securities Limited (INE01C314CG8) - Record: Oct 24, No dealings: Oct 24
- 360 ONE Prime Limited (INE248U14RW6) - Record: Oct 24, No dealings: Oct 24
- Nuvama Wealth and Investment Limited (INE523L14AE5) - Record: Oct 24, No dealings: Oct 24
- Mirae Asset Sharekhan Financial Services Limited (INE550X14AI4) - Record: Oct 24, No dealings: Oct 24
- Poonawalla Fincorp Limited (INE511C14YS9) - Record: Oct 24, No dealings: Oct 24
- Can Fin Homes Ltd. (INE477A14DY9) - Record: Oct 24, No dealings: Oct 24
- Tata Steel Limited (INE081A14FZ1) - Record: Oct 24, No dealings: Oct 24
- SBICAP Securities Limited (INE212K14BW7) - Record: Oct 24, No dealings: Oct 24
Regulatory Changes
No new regulatory changes introduced. This circular implements existing regulations requiring trading suspension in commercial paper ahead of redemption record dates.
Compliance Requirements
- Trading members must not deal in the specified commercial papers from the “no dealings” dates
- Members should update their trading systems to block transactions in these instruments
- Ensure clients holding these commercial papers are informed about the redemption schedule
- Settlement of existing trades must be completed before suspension dates
Important Dates
- October 16, 2025: Notice issued
- October 23, 2025: ECL Finance CP trading suspension begins; record date for ECL Finance
- October 24, 2025: Trading suspension begins for 11 companies; record date for 10 companies
- October 26, 2025: Record date for Navi Finserv Limited
Impact Assessment
Market Impact: Medium - affects debt market liquidity for 12 commercial paper instruments temporarily. Investors holding these instruments will receive redemption proceeds as per schedule.
Operational Impact: Trading desks and settlement systems need to update instrument status. Brokers must inform clients about trading restrictions.
Investor Impact: Holders of these commercial papers will receive redemption payments. No trading opportunity during suspension period, but this is a standard pre-redemption process.
Sector Focus: Primarily impacts financial services sector (9 out of 12 companies) including brokerages, NBFCs, and financial services firms, plus one manufacturing company (Tata Steel).
Impact Justification
Routine suspension for commercial paper redemption affecting 12 companies; impacts debt market participants and commercial paper holders but is a standard corporate action