Description

BSE circular announcing shut periods for Securities Lending and Borrowing (SLB) due to corporate actions including dividends and rights issue for multiple securities.

Summary

BSE has announced shut periods for Securities Lending and Borrowing (SLB) segment due to corporate actions in 23 securities. The shut periods are scheduled between November 13-21, 2025, affecting securities undergoing dividend distributions and one rights issue. During these shut periods, SLB transactions will not be permitted for the affected securities.

Key Points

  • 22 securities will have SLB shut periods due to dividend corporate actions
  • 1 security (Adani Enterprises Ltd.) will have SLB shut period due to rights issue of equity shares
  • Shut periods range from 2-4 days depending on the security
  • Ex-dates and book closure/record dates vary from November 14-21, 2025
  • ONGC and MOIL have the earliest shut periods starting November 13, 2025
  • Multiple securities including Sonata Software, IRCTC, Info Edge, and Gabriel India have shut periods from November 20-21, 2025

Regulatory Changes

No regulatory changes announced. This is a routine operational circular informing market participants about temporary restrictions in the SLB segment.

Compliance Requirements

  • Market participants must not initiate new SLB transactions for the listed securities during their respective shut periods
  • Participants should plan their SLB strategies accounting for these temporary restrictions
  • Brokers and market intermediaries must inform their clients about the SLB unavailability during specified periods

Important Dates

Shut Periods by Date Range:

  • November 13-14, 2025: ONGC
  • November 13-15, 2025: RITES, MOIL
  • November 14-17, 2025: Balrampur Chini Mills, Pearl Global Industries, EPL Limited, Surya Roshni Ltd., Adani Enterprises (Rights Issue)
  • November 17-18, 2025: Cochin Shipyard, Asian Paints, IRB Infrastructure, Precision Wires, MAN Infraconstruction
  • November 18-19, 2025: NBCC, Jamna Auto Industries, Page Industries, CARE Ratings, Banco Products
  • November 19-20, 2025: Container Corporation of India
  • November 20-21, 2025: Sonata Software, IRCTC, Info Edge, Gabriel India

Ex-Dates: Range from November 14-21, 2025 Book Closure/Record Dates: Range from November 14-21, 2025 Foreclosure Date: November 17, 2025 (Adani Enterprises only)

Impact Assessment

Market Impact: Medium - affects liquidity in the SLB segment for 23 securities, including several large-cap and mid-cap stocks. However, impact is limited to the SLB segment only and does not affect normal equity trading.

Operational Impact: Market participants using SLB for hedging, arbitrage, or short-selling strategies will need to plan around these shut periods. The staggered nature of shut periods (spanning November 13-21) helps distribute the impact.

Investor Impact: Limited direct impact on regular equity investors. Primarily affects institutional investors and traders using SLB mechanisms for short positions or securities lending activities.

Notable Securities Affected: Includes major companies across sectors - PSUs (ONGC, RITES, Cochin Shipyard, IRCTC, CONCOR, NBCC, MOIL), private sector leaders (Asian Paints, Info Edge, Sonata Software, Page Industries), and Adani Enterprises undergoing rights issue.

Impact Justification

Affects SLB trading in 23 securities with shut periods ranging from November 13-21, 2025. Includes major companies like ONGC, Asian Paints, and Adani Enterprises. Limited to SLB segment only.