Description
TULIP GROWTH 12 2023 has fixed record date for payment of interest and part redemption of PTCs with reduced face value effective from November 24, 2025.
Summary
BSE has notified that TULIP GROWTH 12 2023 (ISIN: INE0SDO15017, Code: 975299) has fixed the record date for payment of interest and part redemption of Pass Through Certificates (PTCs). Trading in these PTCs will commence with a reduced face value of Rs. 13,800.25 per PTC effective from November 24, 2025.
Key Points
- Security: TULIP GROWTH 12 2023 PTCs (14.25% coupon, maturity June 28, 2026)
- ISIN: INE0SDO15017
- BSE Code: 975299
- Record Date: November 24, 2025
- Purpose: Part redemption of PTCs and payment of interest
- Reduced Face Value: Rs. 13,800.25 per PTC
- Effective Date: November 24, 2025
- Settlement Number: DR-762/2025-2026
Regulatory Changes
No regulatory changes introduced. This is a standard corporate action notification for debt instruments.
Compliance Requirements
- Trading members must note that trading in TULIP GROWTH 12 2023 PTCs will be conducted with the reduced face value effective from November 24, 2025
- All trading and settlement activities must reflect the new face value of Rs. 13,800.25 per PTC from the effective date
- Members should ensure their systems are updated to reflect the reduced face value for settlement number DR-762/2025-2026
Important Dates
- Notice Date: November 18, 2025
- Record Date: November 24, 2025 (for determining eligible holders for part redemption and interest payment)
- Effective Date for Reduced Face Value: November 24, 2025 (Settlement No. DR-762/2025-2026)
Impact Assessment
Market Impact: Medium - This part redemption reduces the outstanding principal amount of the PTCs, affecting the tradable face value. Holders on record date will receive partial principal repayment along with interest.
Operational Impact: Trading members need to update their systems to reflect the reduced face value from November 24, 2025. The reduction in face value may affect pricing calculations and position valuations.
Investor Impact: PTC holders as of the record date will receive part redemption proceeds and interest payments, reducing their exposure to the instrument while receiving partial capital return before the final maturity date of June 28, 2026.
Impact Justification
Part redemption of PTCs affects debt instrument holders with face value reduction from original to Rs. 13,800.25, requiring trading adjustments from November 24, 2025.