Suspension of Trading in Commercial Paper

Description

BSE suspends trading in commercial papers of 10 companies due to upcoming redemptions, with record dates ranging from November 13-18, 2025.

Summary

BSE has issued Notice No. 20251111-56 suspending trading in commercial papers of 10 companies that have fixed record dates for redemption purposes. Trading members are advised not to deal in these commercial papers starting from their respective suspension dates, which range from November 13 to November 18, 2025.

Key Points

• 10 companies’ commercial papers will be suspended from trading
• Suspensions are due to fixed record dates for redemption purposes
• Most suspensions (8 out of 10) are effective from November 18, 2025
• Trading members are explicitly instructed not to deal in these securities
• Notice issued by Marian Dsouza, Assistant Vice President – Listing Compliance and Operations

Regulatory Changes

No new regulatory changes. This is a routine corporate action notice for debt instruments approaching redemption.

Compliance Requirements

• Trading members must cease dealing in the specified commercial papers from their respective suspension dates
• No transactions should be executed in these instruments on or after the “No Dealings From” date
• Market participants must update their trading systems to reflect these suspensions

Important Dates

• November 11, 2025: Notice date
• November 13, 2025: No dealings from date for ECL Finance Limited (Record Date: November 13, 2025)
• November 14, 2025: No dealings from date for Adani Enterprises Ltd. (Record Date: November 14, 2025)
• November 18, 2025: No dealings from date for 8 companies (Record Date: November 18, 2025):
  • Bajaj Finance Limited
  • Mirae Asset Financial Services (India) Private Limited
  • HDFC Securities Limited
  • 360 ONE Prime Limited
  • Bajaj Financial Securities Limited
  • Vivriti Capital Limited
  • Reliance Retail Ventures Limited
  • DSP Finance Private Limited

Impact Assessment

Market Impact: Limited to debt market participants holding or trading these specific commercial papers. The suspension is temporary and related to scheduled redemptions, so it represents normal market operations rather than any adverse event.

Investor Impact: Investors holding these commercial papers will have their instruments redeemed on the respective record dates. Trading suspension prevents any last-minute transactions that could complicate the redemption process.

Operational Impact: Trading members must ensure their systems are updated to prevent inadvertent trading in these suspended securities. The concentration of 8 redemptions on November 18 may require additional operational attention on that date.

Affected Commercial Papers

Impact Justification

Routine redemption-related trading suspension affecting 10 commercial papers with limited broader market impact but important for debt market participants holding these specific instruments