Description
BSE circular announcing shut periods for Securities Lending and Borrowing (SLB) due to upcoming corporate actions including dividends and amalgamations affecting 30 securities.
Summary
BSE has announced shut periods for Securities Lending and Borrowing (SLB) operations affecting 30 securities due to upcoming corporate actions. The circular covers dividend declarations for 28 securities and amalgamations for 2 securities (Dhani Services Limited and Mangalore Chemicals & Fertilisers Limited). During the specified shut periods, these securities will not be available for lending or borrowing under the SLB mechanism.
Key Points
- 30 securities affected by corporate actions requiring SLB shut periods
- 28 securities undergoing dividend corporate actions
- 2 securities undergoing amalgamation (Dhani Services Limited and Mangalore Chemicals & Fertilisers Limited)
- Shut periods range from 1 to 4 days depending on the security
- Ex-dates and record dates span from October 27, 2025 to November 19, 2025
- Amalgamations include foreclosure dates of October 28, 2025 and October 31, 2025
Regulatory Changes
No new regulatory changes introduced. This circular implements existing SLB framework rules requiring suspension of lending/borrowing activities during corporate action periods.
Compliance Requirements
- Market participants must not initiate new SLB transactions for the affected securities during their respective shut periods
- Existing SLB positions should be managed considering the upcoming shut periods
- Participants must ensure compliance with foreclosure dates for securities undergoing amalgamation
Important Dates
Shut Periods Starting October 27, 2025:
- REC Limited: Oct 24-27, 2025
- Infosys Ltd: Oct 24-27, 2025
- TANLA Platforms Limited: Oct 24-27, 2025
- L&T Technology Services Limited: Oct 24-27, 2025
- CESC Limited: Oct 24-27, 2025
- 360 ONE WAM Limited: Oct 24-27, 2025
- CRISIL Ltd: Oct 24-27, 2025
- Central Bank of India: Oct 24-27, 2025
- PCBL Chemical Limited: Oct 24-27, 2025
Amalgamation Foreclosure:
- Dhani Services Limited: Foreclosure Oct 28, 2025 (Shut: Oct 27-28)
- Mangalore Chemicals & Fertilisers: Foreclosure Oct 31, 2025 (Shut: Oct 30-31)
Other Notable Dates:
- October 30-31: NRB Bearings, Laurus Labs, Supreme Petrochem, COFORGE, PDS Limited
- November 3-4: Colgate-Palmolive, DCM Shriram, Oracle Financial Services, RailTel
- November 6-7: Dabur India, Balkrishna Industries, Godrej Consumer, Hindustan Unilever, Share India Securities
- November 7-10: Ajanta Pharma, Garden Reach Shipbuilders, Power Grid Corporation
- November 18-19: Page Industries
- August 6-7, 2025: Symphony Limited (historical entry)
Impact Assessment
Market Impact: Medium - The shut periods temporarily restrict SLB liquidity for 30 securities, affecting short-selling and hedging strategies. Major blue-chip stocks like Infosys, Hindustan Unilever, and Dabur are included, which may impact institutional trading strategies.
Operational Impact: Market participants engaged in SLB activities must plan around these shut periods. The inclusion of high-volume securities may increase temporary demand for alternative hedging instruments during shut periods.
Investor Impact: Regular equity trading remains unaffected. Only securities lending and borrowing operations are restricted during the specified periods. Investors with existing SLB positions should note foreclosure dates for amalgamation cases to avoid forced closures.
Impact Justification
Affects SLB operations for 30 securities with temporary shut periods for corporate actions; impacts short-term borrowing/lending activities but does not affect regular trading