Description

BSE suspends trading in commercial paper of 12 companies due to upcoming redemptions 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 October 23-24, 2025. The suspension is imposed due to record dates fixed for redemption of commercial paper between October 23-26, 2025. Trading members are advised not to deal in these securities from the specified “No Dealings From” dates.

Key Points

  • 12 companies have fixed record dates for commercial paper redemption
  • Trading suspension effective from October 23-24, 2025 depending on the security
  • Record dates range from October 23-26, 2025
  • One security (ECL Finance) has suspension starting October 23, 2025
  • Eleven securities have suspension starting October 24, 2025
  • All suspensions are related to corporate action: redemption of commercial paper
  • Trading members explicitly advised not to deal in these instruments

Regulatory Changes

No new regulatory framework changes. This is a routine corporate action notice enforcing existing trading suspension protocols for securities approaching redemption.

Compliance Requirements

  • Trading members must not execute trades in the specified commercial paper from the “No Dealings From” dates
  • Market participants must honor the record dates for redemption purposes
  • Brokers must update their systems to block trading in these 12 commercial paper securities

Important Dates

ECL Finance Limited (INE804I14XZ2)

  • Record Date: October 23, 2025
  • No Dealings From: October 23, 2025

Navi Finserv Limited (INE342T14DG2)

  • Record Date: October 26, 2025
  • No Dealings From: October 24, 2025

Axis Securities Limited (INE110O14GA0)

  • Record Date: October 24, 2025
  • No Dealings From: October 24, 2025

Mirae Asset Financial Services (India) Private Limited (INE0JRU14230)

  • Record Date: October 24, 2025
  • No Dealings From: October 24, 2025

Bajaj Financial Securities Limited (INE01C314CG8)

  • Record Date: October 24, 2025
  • No Dealings From: October 24, 2025

360 ONE Prime Limited (INE248U14RW6)

  • Record Date: October 24, 2025
  • No Dealings From: October 24, 2025

Nuvama Wealth and Investment Limited (INE523L14AE5)

  • Record Date: October 24, 2025
  • No Dealings From: October 24, 2025

Mirae Asset Sharekhan Financial Services Limited (INE550X14AI4)

  • Record Date: October 24, 2025
  • No Dealings From: October 24, 2025

POONAWALLA FINCORP LIMITED (INE511C14YS9)

  • Record Date: October 24, 2025
  • No Dealings From: October 24, 2025

Can Fin Homes Ltd. (INE477A14DY9)

  • Record Date: October 24, 2025
  • No Dealings From: October 24, 2025

TATA STEEL LIMITED (INE081A14FZ1)

  • Record Date: October 24, 2025
  • No Dealings From: October 24, 2025

SBICAP Securities Limited (INE212K14BW7)

  • Record Date: October 24, 2025
  • No Dealings From: October 24, 2025

Impact Assessment

Market Impact: Medium - affects debt market liquidity for 12 commercial paper instruments temporarily. Financial services and NBFC sector predominantly impacted with 9 out of 12 issuers from this sector.

Operational Impact: Low to Medium - trading systems need updates to block transactions. Investors holding these instruments should prepare for redemption settlements.

Investor Impact: Low - standard redemption process; investors will receive principal repayment on maturity. No trading opportunity loss as instruments are at maturity.

Sectoral Distribution: Predominantly financial services companies including brokerages (Axis Securities, SBICAP Securities, Bajaj Financial Securities), wealth management firms (360 ONE, Nuvama), NBFCs (Poonawalla Fincorp, Can Fin Homes, ECL Finance, Navi Finserv), and one industrial issuer (Tata Steel).

Impact Justification

Routine suspension affecting debt instruments of 12 companies for redemption; temporary market impact limited to commercial paper segment