Description
Trading suspended for 25 commercial papers from various companies due to redemption scheduled for November 20-23, 2025. Trading members advised not to deal in these securities.
Summary
BSE has suspended trading in 25 commercial papers issued by various companies effective from November 20-21, 2025. The suspension is due to scheduled redemptions with record dates set between November 20-23, 2025. Trading members are advised not to deal in these securities from the specified no-dealings dates.
Key Points
- 25 commercial papers from different issuers are subject to trading suspension
- Redemptions scheduled between November 20-23, 2025
- No dealings permitted from November 20-21, 2025 depending on the security
- Includes major issuers like Bajaj Finance, Reliance Retail Ventures, Axis Finance, and others
- All securities covered under notice DR-760/2025-2026 and DR-761/2025-2026
Regulatory Changes
No new regulatory changes. This is a standard operational notice for commercial paper redemptions.
Compliance Requirements
- Trading members must not execute any deals in the listed commercial papers from the specified no-dealings dates
- Members must inform clients holding these securities about the redemption schedule
- Ensure settlement obligations are met before the suspension takes effect
Important Dates
- November 20, 2025: Record date and no-dealings date for 13 commercial papers (Bajaj Finance, UGRO Capital, IGH Holdings, Julius Baer Capital, Pilani Investment, Capri Global, Godrej Finance, Reliance Retail Ventures, Axis Finance, Fedbank Financial, Dalmia Cement, L&T Metro Rail, Nuvama Clearing Services)
- November 21, 2025: Record date and no-dealings date for 9 commercial papers (Nuvama Wealth, Krazybee Services, Navi Finserv, Vivriti Capital, Godrej Finance, SBICAP Securities, Infina Finance, 360 ONE Prime, Fedbank Financial, Tata Power, Manappuram Finance)
- November 23, 2025: Record date for 2 commercial papers (Navi Finserv, Fedbank Financial) with no-dealings from November 21, 2025
Impact Assessment
Market Impact: Medium - affects debt market liquidity for these specific instruments but is a routine corporate action. Investors holding these commercial papers will receive redemption proceeds as scheduled.
Operational Impact: Trading members need to update their systems to block trading in these securities and communicate with affected clients. The short notice period (3-4 days) requires prompt action.
Issuer Coverage: Diverse range of issuers including financial services companies (Bajaj Finance, Axis Finance, UGRO Capital), NBFCs (Manappuram Finance, Fedbank Financial), retail (Reliance Retail Ventures), infrastructure (L&T Metro Rail, Dalmia Cement), and fintech companies (Krazybee Services, Navi Finserv).
Impact Justification
Routine commercial paper redemptions affecting 25 securities with short notice period. Medium impact on debt market participants holding these instruments.