Description

BSE suspends trading in commercial papers of multiple companies due to upcoming redemption. No dealings allowed from respective record dates.

Summary

BSE has issued a notice suspending trading in commercial papers of nine companies effective from their respective record dates set for redemption purposes. Trading members are prohibited from dealing in these securities starting November 4, 2025 and November 12, 2025 depending on the issuer.

Key Points

  • Nine companies have fixed record dates for commercial paper redemption
  • Trading suspension applies immediately from respective record dates
  • ECL Finance Limited CP trading suspended from November 4, 2025
  • Eight other companies’ CPs suspended from November 12, 2025
  • Notice categorized under Corporate Actions in Debt segment
  • Trading members explicitly advised not to deal in these securities

Regulatory Changes

No new regulatory framework introduced. This is a standard operational measure implementing existing regulations regarding trading suspension during redemption periods for debt securities.

Compliance Requirements

  • Trading members must not execute any trades in the specified commercial papers from their respective no-dealing dates
  • Members must update their systems to block trading in the listed ISINs
  • Compliance with record date procedures for redemption processing

Important Dates

November 4, 2025:

  • ECL Finance Limited (INE804I14XX7) - Record Date and No Dealings From date

November 12, 2025:

  • Standard Chartered Capital Limited (INE403G14SS2)
  • IGH Holdings Private Limited (INE02FN14606)
  • HDFC Securities Limited (INE700G14PH0)
  • 360 ONE WAM LIMITED (INE466L14ET7)
  • Mahindra Lifespace Developers Ltd (INE813A14359)
  • Bajaj Financial Securities Limited (INE01C314CJ2)
  • Poonawalla Fincorp Limited (INE511C14YU5)
  • Reliance Retail Ventures Limited (INE929O14DU8)

Impact Assessment

Market Impact: High - affects liquidity in commercial paper market for major financial institutions and corporates. Investors holding these securities cannot exit positions through secondary market.

Operational Impact: Trading members must immediately update trading systems to prevent inadvertent trades in suspended securities, risking operational errors and compliance violations.

Investor Impact: Holders of these commercial papers are locked into their positions until redemption, affecting portfolio rebalancing strategies and liquidity management for institutional investors.

Impact Justification

Trading suspension affects 9 companies' commercial papers with immediate effect, impacting debt market liquidity and investor positions