Description

BSE suspends trading in commercial papers of nine companies due to redemption. No dealings permitted from specified dates ranging from October 29 to October 31, 2025.

Summary

BSE has issued a trading suspension notice for commercial papers (CPs) of nine companies scheduled for redemption. Trading members are advised not to deal in these securities from the specified no-dealings dates. The suspensions range from October 29 to October 31, 2025, corresponding to the record dates set by respective issuers.

Key Points

  • Nine companies have fixed record dates for commercial paper redemption
  • Trading suspension applies to debt market segment only
  • No dealings permitted from specified dates for each security
  • Notice issued under Corporate Actions category (Notice No: 20251024-6)
  • Issued by Assistant Vice President – Listing Operations (CRD)

Affected Companies and Securities

Redemption Date: October 30, 2025

  • Axis Finance Limited (AFL-30-10-25-CP, ISIN: INE891K14PE6, Code: 729911) - No dealings from Oct 29
  • Standard Chartered Capital Limited (SCCL-30-10-25-CP, ISIN: INE403G14TO9, Code: 729945) - No dealings from Oct 29
  • Bajaj Housing Finance Limited (BHFL-30-10-25-CP, ISIN: INE377Y14BN8, Code: 729948) - No dealings from Oct 29
  • KEC International Ltd. (KEC-30-10-25-CP, ISIN: INE389H14LE6, Code: 729950) - No dealings from Oct 29
  • Nuvama Wealth and Investment Limited (NWIL-30-10-25-CP, ISIN: INE523L14AL0, Code: 730392) - No dealings from Oct 29

Redemption Date: October 31, 2025

  • SBICAP Securities Limited (SBICAPSL-31-10-25-CP, ISIN: INE212K14BU1, Code: 729818) - No dealings from Oct 30

Redemption Date: November 3, 2025

  • Network 18 Media & Investments Limited (NMIL-3-11-25-CP, ISIN: INE870H14VP0, Code: 729955) - No dealings from Oct 31
  • Indian Oil Corporation Ltd. (IOCL-03-11-25-CP, ISIN: INE242A14YE5, Code: 729967) - No dealings from Oct 31
  • Tata Housing Development Company Limited (THDCL-03-11-25-CP, ISIN: INE582L14IS4, Code: 729969) - No dealings from Oct 31

Compliance Requirements

  • Trading members must not execute any trades in the specified commercial papers from the no-dealings dates
  • All trading activities must cease one day before the record date for each security
  • Members must ensure compliance with circular references DR-745/2025-2026, DR-746/2025-2026, and DR-747/2025-2026

Important Dates

  • October 24, 2025: Notice date and effective date of circular
  • October 29, 2025: Record date and no-dealings start date for 5 CPs (Axis Finance, Standard Chartered Capital, Bajaj Housing Finance, KEC International, Nuvama Wealth)
  • October 30, 2025: Record date and no-dealings start date for SBICAP Securities CP; Redemption date for first 5 CPs
  • October 31, 2025: Record date and no-dealings start date for 3 CPs (Network 18, Indian Oil, Tata Housing); Redemption date for SBICAP Securities CP
  • November 3, 2025: Redemption date for final 3 CPs

Impact Assessment

Market Impact: Limited to debt market participants holding or trading these specific commercial papers. The suspension is procedural and necessary for redemption processing.

Investor Impact: CP holders will receive redemption proceeds on maturity dates. No secondary market liquidity available during suspension period.

Operational Impact: Trading members must update their systems to block trades in these securities from specified dates. The short notice period (5 days for first set) requires prompt action.

Scope: Affects institutional investors and high-net-worth individuals typically participating in CP markets. The companies represent diverse sectors including financial services, infrastructure, media, and energy.

Impact Justification

Routine trading suspension for commercial paper redemption affecting nine companies. Limited to debt market with specific short-term impact on CP holders.