Description
BSE circular detailing corporate actions (dividends and amalgamations) affecting Securities Lending and Borrowing (SLB) segment with shut periods and ex-dates for 30 securities.
Summary
BSE has issued a circular notifying corporate actions affecting 30 securities in the Securities Lending and Borrowing (SLB) segment. The circular covers dividend distributions for 28 companies and amalgamations for 2 companies, scheduled between October 27, 2025 and November 19, 2025. Market participants must foreclose their SLB positions during the specified shut periods to accommodate these corporate actions.
Key Points
- 30 securities affected with corporate actions in SLB segment
- 28 dividend declarations and 2 amalgamation events
- Ex-dates range from October 27, 2025 to November 19, 2025
- Mandatory shut periods specified for each security ranging from 1-4 days
- Foreclosure required for amalgamation actions (Dhani Services and Mangalore Chemicals & Fertilisers)
- Major blue-chip companies included: Infosys, HUL, Dabur, Power Grid, Colgate-Palmolive
- Record dates aligned with ex-dates for all corporate actions
Regulatory Changes
No new regulatory changes introduced. This circular implements existing SLB framework requirements for handling corporate actions in borrowed/lent securities.
Compliance Requirements
- SLB participants must foreclose their positions during the specified shut periods
- No new SLB contracts can be created during shut periods
- For amalgamation events (Dhani Services and Mangalore Chemicals & Fertilisers), mandatory foreclosure on specified dates
- Market participants must monitor shut period schedules: earliest starting October 24, 2025, latest ending November 19, 2025
- Trading members must ensure clients are informed of foreclosure requirements
Important Dates
Immediate Action Required (October 2025):
- October 27, 2025: Ex-date and shut period end for REC Limited, Tanla Platforms, L&T Technology Services, Infosys, CESC, 360 ONE WAM, CRISIL, Central Bank of India, PCBL Chemical
- October 28, 2025: Dhani Services amalgamation foreclosure date
- October 31, 2025: Ex-date for NRB Bearings, Laurus Labs, Mangalore Chemicals & Fertilisers (amalgamation), Supreme Petrochem, Coforge, PDS Limited
November 2025 Key Dates:
- November 3, 2025: Colgate-Palmolive, DCM Shriram, Oracle Financial Services
- November 4, 2025: RailTel Corporation
- November 6, 2025: Share India Securities
- November 7, 2025: Dabur India, Balkrishna Industries, Godrej Consumer Products, Hindustan Unilever
- November 10, 2025: Ajanta Pharma, Power Grid Corporation
- November 11, 2025: Garden Reach Shipbuilders & Engineers
- November 19, 2025: Page Industries
Anomaly:
- Symphony Limited: Ex-date August 7, 2025 (appears to be historical/reference data)
Impact Assessment
Market Impact: High - affects 30 actively traded securities including several large-cap and blue-chip stocks with significant SLB activity. The shut periods will reduce available floating stock for lending/borrowing during peak corporate action season.
Operational Impact: High - SLB participants must manage foreclosure of multiple positions across different dates, requiring careful coordination and risk management. Amalgamation events for Dhani Services and Mangalore Chemicals require complete position closure.
Liquidity Impact: Medium to High - temporary reduction in SLB liquidity for affected securities during shut periods. Major stocks like Infosys, HUL, and Power Grid could see constrained short-selling activity.
Risk Considerations: Participants failing to foreclose positions timely may face regulatory action and operational disruptions. The concentrated timeline with multiple securities having ex-dates in late October/early November requires enhanced monitoring.
Impact Justification
Critical information for SLB participants as it mandates foreclosure of positions during shut periods for multiple high-profile securities including major blue-chips like Infosys, HUL, and Power Grid, directly impacting trading operations.