Description
BSE suspends trading in commercial papers of 12 companies due to upcoming redemptions. No dealings allowed from specified dates ranging from October 23-24, 2025.
Summary
BSE has announced the suspension of trading in commercial papers issued by 12 companies effective from October 23-24, 2025. The suspension is due to record dates fixed for redemption purposes, with record dates falling between October 23-26, 2025. Trading members are advised not to deal in these securities from the specified “no dealings” dates.
Key Points
- 12 companies’ commercial papers affected by trading suspension
- Suspensions effective from October 23-24, 2025 depending on issuer
- Record dates set between October 23-26, 2025 for redemption
- Trading members explicitly prohibited from dealing in these securities
- Applies to debt segment corporate actions
- Notice issued as DR-741/2025-2026 and DR-742/2025-2026
Affected Issuers and Details
| Company | ISIN | Record Date | No Dealings From |
|---|---|---|---|
| ECL Finance Limited | INE804I14XZ2 | 23/10/2025 | 23/10/2025 |
| Navi Finserv Limited | INE342T14DG2 | 26/10/2025 | 24/10/2025 |
| Axis Securities Limited | INE110O14GA0 | 24/10/2025 | 24/10/2025 |
| Mirae Asset Financial Services (India) Pvt Ltd | INE0JRU14230 | 24/10/2025 | 24/10/2025 |
| Bajaj Financial Securities Limited | INE01C314CG8 | 24/10/2025 | 24/10/2025 |
| 360 ONE Prime Limited | INE248U14RW6 | 24/10/2025 | 24/10/2025 |
| Nuvama Wealth and Investment Limited | INE523L14AE5 | 24/10/2025 | 24/10/2025 |
| Mirae Asset Sharekhan Financial Services Ltd | INE550X14AI4 | 24/10/2025 | 24/10/2025 |
| Poonawalla Fincorp Limited | INE511C14YS9 | 24/10/2025 | 24/10/2025 |
| Can Fin Homes Ltd | INE477A14DY9 | 24/10/2025 | 24/10/2025 |
| Tata Steel Limited | INE081A14FZ1 | 24/10/2025 | 24/10/2025 |
| SBICAP Securities Limited | INE212K14BW7 | 24/10/2025 | 24/10/2025 |
Regulatory Changes
No new regulatory changes introduced. This circular implements standard procedure for commercial paper redemptions as per existing debt market regulations.
Compliance Requirements
- Trading members must not execute any deals in the specified commercial papers from the “no dealings” dates
- Members should update their trading systems to block transactions in these securities
- Investors holding these commercial papers should be aware of the redemption schedule
- Settlement obligations for existing trades must be completed before suspension dates
Important Dates
- October 16, 2025: Circular issue date
- October 23, 2025: No dealings start for ECL Finance CP (Record date: 23/10/2025)
- October 24, 2025: No dealings start for 11 other CPs (Record dates: 24/10/2025 or 26/10/2025)
- October 23-26, 2025: Record dates for redemption across all affected securities
Impact Assessment
Market Impact: Limited to debt market participants and holders of these specific commercial papers. The suspension is procedural and related to normal redemption cycles.
Operational Impact: Trading members must ensure compliance by blocking transactions in these 12 securities. Firms with positions in these CPs should prepare for redemption settlements.
Investor Impact: Investors holding these commercial papers will receive redemption proceeds as per the terms. No secondary market liquidity available from suspension dates. Most suspensions begin on October 24, 2025, providing minimal advance notice period.
Sector Coverage: Diversified across financial services (NBFCs, brokerages, wealth management) and industrial (steel) sectors, indicating routine maturity-driven redemptions rather than credit concerns.
Impact Justification
Affects debt market participants holding commercial papers of 12 issuers. Routine redemption-related suspension with limited broader market impact.