Description
BSE circular detailing shut periods for Securities Lending and Borrowing (SLB) due to corporate actions including dividends and bonus issue across 32 securities for November 2025.
Summary
BSE has announced shut periods for Securities Lending and Borrowing (SLB) operations across 32 securities due to upcoming corporate actions in November 2025. The circular provides details of ex-dates, record dates, book closure dates, and shut periods for 31 dividend announcements and 1 bonus issue.
Key Points
- 32 securities will have SLB shut periods during November 2025
- 31 companies declaring dividends with various ex-dates between November 3-21, 2025
- HDFC Asset Management Company Limited announcing bonus issue with ex-date November 26, 2025
- Shut periods range from 1-3 days depending on the corporate action
- Earliest shut period begins October 31, 2025 (Supreme Industries, Shree Cements, DCM Shriram)
- Latest shut period ends November 26, 2025 (HDFC AMC bonus issue)
- SLB transactions will be restricted during specified shut periods for each security
Regulatory Changes
No new regulatory changes introduced. This circular implements standard SLB operational restrictions during corporate action periods as per existing regulations.
Compliance Requirements
- Market participants must not initiate new SLB transactions in the affected securities during shut periods
- Traders and brokers should plan SLB strategies accounting for the shut period restrictions
- No lending or borrowing of securities will be permitted during the specified shut periods
- Existing SLB positions may need to be closed or rolled over before shut periods commence
Important Dates
November 2025 - Dividend Ex-Dates:
- November 3: Supreme Industries, Shree Cements, DCM Shriram
- November 4: Coal India, Sundram Fasteners, Bhansali Engineering (ex-date Nov 4, BC Nov 5), Mazagon Dock, RailTel
- November 6: Share India Securities, Hindustan Petroleum, NIPPON Life AMC, TD Power Systems
- November 7: Dabur India, CAMS, Aptus Housing Finance, Dr. Lal Pathlabs, Manappuram Finance, Godrej Consumer, Shriram Finance, Bharat Petroleum, Sanofi India
- November 10: Aurionpro Solutions, Route Mobile
- November 11: Indian Metals & Ferro Alloys, Chambal Fertilisers
- November 12: Sagility Limited, Symphony Limited
- November 14: Birlasoft, Oil And Natural Gas Corporation
- November 21: IRCTC
- November 26: HDFC AMC (Bonus Issue)
Shut Periods: Range from October 31, 2025 to November 26, 2025 across different securities
Impact Assessment
Market Impact: Medium - affects liquidity and trading strategies for 32 actively traded securities in the SLB segment during November 2025
Operational Impact: Market participants using SLB for hedging, arbitrage, or short-selling strategies must plan around these shut periods. The concentration of dividend ex-dates in early-to-mid November may impact overall SLB market liquidity during this period.
Investor Considerations: Short sellers and securities lenders should close or adjust positions before shut periods. Borrowers must ensure they can meet obligations without ability to borrow during shut periods. The HDFC AMC bonus issue requires special attention as it involves share multiplication rather than cash distribution.
Impact Justification
Affects SLB trading operations across 32 securities during November 2025, requiring traders to plan around shut periods for corporate actions including one bonus issue