Description

TULIP GROWTH 12 2023 has fixed Record Date for payment of interest and part redemption of PTCs with reduced face value effective from October 24, 2025.

Summary

TULIP GROWTH 12 2023 has announced part redemption of Pass Through Certificates (PTCs) along with interest payment. The Record Date is set as October 24, 2025, and trading in the PTCs will commence with a reduced face value from the same date. The face value will be reduced to Rs. 16,653.72 per PTC.

Key Points

  • Record Date fixed: October 24, 2025
  • Purpose: Part Redemption of PTCs and Payment of Interest
  • ISIN: INE0SDO15017
  • BSE Code: 975299
  • Reduced Face Value: Rs. 16,653.72 per PTC
  • Effective Date for trading with reduced face value: October 24, 2025
  • Settlement Number: DR-742/2025-2026
  • Segment: IRD (Interest Rate Derivatives)

Regulatory Changes

No regulatory changes introduced. This is a standard corporate action notification for part redemption of debt securities.

Compliance Requirements

  • Trading Members must note that trading in PTCs of TULIP GROWTH 12 2023 will be conducted with the reduced face value of Rs. 16,653.72 per PTC effective from October 24, 2025
  • Members must adjust their systems and records to reflect the new face value
  • Investors holding these PTCs should be informed about the part redemption and interest payment

Important Dates

  • Record Date: October 24, 2025 - For determining eligibility for interest payment and part redemption
  • Effective Date: October 24, 2025 - Trading commences with reduced face value
  • Settlement: DR-742/2025-2026

Impact Assessment

Market Impact: Medium - This corporate action affects holders of TULIP GROWTH 12 2023 PTCs. The part redemption will return capital to investors while reducing the outstanding face value of the security.

Investor Impact: PTC holders will receive interest payment and partial redemption of their investment. Post-redemption, the face value per PTC will be reduced to Rs. 16,653.72, which will affect the calculation of future interest payments and the remaining investment value.

Operational Impact: Trading members need to update their systems to reflect the reduced face value for all trades executed on or after October 24, 2025. Settlement processes must account for the new face value in the DR-742/2025-2026 settlement cycle.

Impact Justification

Part redemption of PTCs affects investors holding these securities, requiring them to note the reduced face value and record date for interest payment and redemption.