Description
Trading suspended in JM Financial Products Limited debentures from November 7, 2025 due to partial redemption and interest payment with record date of November 8, 2025.
Summary
BSE has announced the suspension of trading in Non-Convertible Debentures (NCDs) of JM Financial Products Limited (ISIN: INE523H07BX5, Code: 974922) effective November 7, 2025. The suspension is implemented due to the company’s scheduled partial redemption through buyback at investor request and interest payment, with a record date set for November 8, 2025. Trading members are advised not to deal in these debentures during the suspension period.
Key Points
- Trading suspended for JM Financial Products Limited NCDs (8.8% coupon, maturity 23-12-25)
- ISIN: INE523H07BX5, BSE Code: 974922
- No dealings permitted from November 7, 2025
- Record date fixed for November 8, 2025
- Purpose: Partial redemption due to buyback at investor request and interest payment
- Circular reference: DR-751/2025-2026
- Issued by: Marian Dsouza, Assistant Vice President – Listing Operations (CRD)
Regulatory Changes
No regulatory changes introduced. This is a standard corporate action notification for debt securities.
Compliance Requirements
- Trading members must not execute any trades in the specified debentures from November 7, 2025
- All trading members are required to take note of the suspension and update their systems accordingly
- Members must ensure compliance with the no-dealings restriction for debenture ISIN INE523H07BX5
Important Dates
- November 6, 2025: Circular issuance date
- November 7, 2025: Trading suspension effective date (no dealings from this date)
- November 8, 2025: Record date for partial redemption and interest payment
Impact Assessment
Market Impact: Limited to holders of specific JM Financial Products Limited debentures. The suspension is temporary and related to corporate action processing rather than financial distress.
Investor Impact: Debenture holders eligible as per the record date will receive partial redemption proceeds and interest payments. Trading liquidity is suspended during the corporate action period.
Operational Impact: Trading members must update their systems to block trades in the specified debenture. Back-office operations need to process the partial redemption and interest payment for eligible holders.
Impact Justification
High importance due to immediate trading suspension affecting debt instrument holders. Medium impact as it affects specific debenture holders of JM Financial Products Limited rather than broader market.