Description

BSE announces listing of two series of non-convertible debentures issued by Bilaspur Pathrapali Road Private Limited on private placement basis, effective October 16, 2025.

Summary

BSE has listed two series of non-convertible debentures (NCDs) issued by Bilaspur Pathrapali Road Private Limited on private placement basis, effective October 16, 2025. The securities carry CARE AAA/Stable and IND AAA/Stable ratings and will trade in dematerialized form only on the BSE Debt segment.

Key Points

  • Two series of NCDs listed with aggregate quantity of 37,132 debentures
  • Series 1 (ISIN: INE02AS07022): 29,134 debentures at 7.75% p.a., maturing September 30, 2035
  • Series 2 (ISIN: INE02AS07014): 7,998 debentures at 7.85% p.a., maturing March 31, 2030
  • Face value and issue price: Rs. 1,00,000 per debenture for both series
  • Date of allotment: October 15, 2025
  • Credit ratings: CARE AAA/Stable and IND AAA/Stable for both series
  • Interest payment frequency: Half-yearly for both series
  • Market lot: 1 debenture
  • Tick size: 1 paise
  • No put/call options available

Regulatory Changes

None. This is a routine listing notification.

Compliance Requirements

  • Trading members must trade these securities only in dematerialized form under the specified ISIN numbers
  • Securities must be traded with tick size of 1 paise
  • Trading members should refer to the Placement Memorandum available at https://www.bseindia.com/markets/debt/memorandum_data.aspx for further details
  • For clarifications, members may contact BSE debt department at 22728352/8597/8995/5753/8915

Important Dates

  • Date of Allotment: October 15, 2025
  • Listing Date: October 16, 2025
  • Interest Payment: Half-yearly (dates to be determined based on allotment date)
  • Redemption Dates:
    • Series 1 (7.75%): September 30, 2035
    • Series 2 (7.85%): March 31, 2030

Impact Assessment

Market Impact: Minimal. This is a private placement of infrastructure debt securities with institutional participation only.

Operational Impact: Trading members gain access to two new AAA-rated debt instruments for their institutional clients. The securities provide diversification options in the infrastructure financing sector with tenors of approximately 5 years and 10 years.

Investor Impact: Limited to qualified institutional buyers and high net-worth individuals who participate in private placements. The high face value (Rs. 1 lakh) restricts retail participation.

Impact Justification

Routine debt security listing for private placement NCDs of an infrastructure company. Limited market impact as securities are not publicly offered and trading is restricted to institutional participants.