Description

Trading suspended in JM Financial Products Limited debentures from November 7, 2025 due to partial redemption and interest payment with record date November 8, 2025.

Summary

BSE has announced the suspension of trading in non-convertible debentures of JM Financial Products Limited (ISIN: INE523H07BX5, Code: 974922) effective November 7, 2025. The suspension is due to the company fixing November 8, 2025 as the record date for partial redemption arising from buyback at investor request and interest payment on the 8.8% debentures maturing December 23, 2025.

Key Points

  • Trading Members are advised not to deal in the specified debentures from November 7, 2025
  • Record date set for November 8, 2025
  • Applies to JM Financial Products Limited 8.8% debentures maturing 23-12-25 (Private placement)
  • ISIN: INE523H07BX5
  • BSE Code: 974922
  • Reference: DR-751/2025-2026

Regulatory Changes

No new regulatory changes. This is a standard trading suspension procedure for debt securities approaching corporate action events.

Compliance Requirements

  • Trading Members must cease all trading activity in the specified debentures from November 7, 2025
  • Trading Members must ensure compliance with the no-dealings directive
  • Market participants should note the record date for determining eligibility for interest payment and partial redemption

Important Dates

  • November 6, 2025: Circular issue date
  • November 7, 2025: Trading suspension begins (no dealings from this date)
  • November 8, 2025: Record date for interest payment and partial redemption
  • December 23, 2025: Original maturity date of debentures

Impact Assessment

Market Impact: High for holders of these specific debentures as trading is completely suspended. Investors holding these securities cannot exit positions through secondary market trading from November 7, 2025.

Operational Impact: Trading Members must update their systems to block trading in the specified ISIN. The suspension affects liquidity for debenture holders who may have intended to trade before the record date.

Investor Impact: Debenture holders should note that only those holding securities on the record date (November 8, 2025) will be eligible for the interest payment and partial redemption proceeds from the buyback. The trading suspension ensures clean record date determination.

Impact Justification

Complete trading suspension in specific debentures with immediate effect impacts debt market participants and debenture holders