Description

BSE notification on corporate actions including dividends for 22 companies and rights issue for Adani Enterprises, with shut periods and record dates from November 14-21, 2025.

Summary

BSE has issued a circular notifying corporate actions affecting Securities Lending and Borrowing (SLB) mechanism for 23 securities. The circular covers 22 dividend announcements and 1 rights issue (Adani Enterprises) scheduled between November 14-21, 2025. During the specified shut periods, these securities will not be available for lending/borrowing transactions in the SLB segment.

Key Points

  • 22 companies declaring dividends with record dates between November 14-21, 2025
  • Adani Enterprises announcing rights issue with record date November 17, 2025
  • Shut periods range from 2-4 days for each security
  • Ex-dates align with record dates for most securities (RITES and MOIL have ex-date one day prior)
  • SLB transactions will be restricted during shut periods for affected securities
  • Major blue-chip companies included: ONGC, Asian Paints, IRCTC, Container Corporation, Info Edge

Regulatory Changes

No new regulatory changes. This circular implements existing SLB framework requirements that mandate suspension of lending/borrowing activities during corporate action periods to ensure proper settlement and shareholder eligibility determination.

Compliance Requirements

  • Market participants must not initiate new SLB transactions for listed securities during their respective shut periods
  • Existing SLB positions may need to be closed or rolled over before shut period commencement
  • Trading members must inform clients about SLB restrictions for these securities
  • Clearing corporation will enforce foreclosure dates where applicable (only Adani Enterprises has foreclosure date of November 17, 2025)

Important Dates

Earliest Actions:

  • November 13-14, 2025: ONGC shut period begins
  • November 13-15, 2025: RITES and MOIL shut periods

Mid-Period Actions:

  • November 14-17, 2025: Balrampur Chini, EPL Limited, Pearl Global, Surya Roshni shut periods
  • November 17-18, 2025: Adani Enterprises rights issue shut period (with foreclosure)
  • November 17-18, 2025: Cochin Shipyard, Asian Paints, IRB Infra, Precision Wires, MAN Infra shut periods

Latest Actions:

  • November 18-19, 2025: NBCC, Jamna Auto, Page Industries, CARE Ratings, Banco Products shut periods
  • November 19-20, 2025: Container Corporation shut period
  • November 20-21, 2025: Sonata Software, IRCTC, Info Edge, Gabriel India shut periods (latest)

Impact Assessment

Market Impact: Medium - affects liquidity in SLB segment for 23 securities over 8 trading days. Market participants with short positions or hedging strategies using SLB must plan accordingly.

Operational Impact: Brokers and institutional investors utilizing SLB for short-selling, hedging, or arbitrage strategies need to adjust positions before shut periods. The staggered timing (November 13-21) allows for sequential management of exposures.

Investor Impact: Dividend announcements are positive for long-term holders. Rights issue by Adani Enterprises provides growth capital opportunity but may create short-term price pressure. SLB restrictions temporarily reduce short-selling pressure during corporate action periods.

Sector Concentration: Multiple sectors affected including Oil & Gas (ONGC), Infrastructure (IRB, NBCC, Adani), Paints (Asian Paints), IT Services (Sonata, Info Edge), PSUs (RITES, Cochin Shipyard, Container Corp, IRCTC, MOIL), and Consumer Goods (Page Industries).

Impact Justification

Corporate actions affect SLB trading for 23 securities with shut periods ranging from 2-4 days. Includes major companies like ONGC, Asian Paints, and Adani Enterprises rights issue. Medium impact as it affects securities lending and borrowing activities temporarily.