Description

TULIP GROWTH 12 2023 has fixed record date for part redemption of Pass Through Certificates (PTCs) and payment of interest, with reduced face value effective from November 24, 2025.

Summary

BSE has notified that TULIP GROWTH 12 2023 has fixed the record date for part redemption of Pass Through Certificates (PTCs) and payment of interest. Trading in the PTCs will be conducted with reduced face value effective from November 24, 2025.

Key Points

  • Security: TULIP GROWTH 12 2023 (INE0SDO15017)
  • Security Code: 975299
  • Coupon Rate: 14.25%
  • Record Date: November 24, 2025
  • Effective Date: November 24, 2025
  • Settlement Number: DR-762/2025-2026
  • New Reduced Face Value: Rs. 13,800.25 per PTC
  • Original Face Value: Rs. 14,000 per PTC (implied)
  • Redemption Amount: Rs. 199.75 per PTC

Regulatory Changes

No regulatory changes. This is a standard corporate action notification for part redemption of debt securities.

Compliance Requirements

  • Trading members must note that trading in the PTCs will be conducted with the reduced face value of Rs. 13,800.25 per PTC from November 24, 2025 onwards
  • Members should update their systems to reflect the new face value post redemption
  • PTC holders as on the record date (November 24, 2025) will be eligible for interest payment and part redemption proceeds

Important Dates

  • Record Date: November 24, 2025 - Eligibility date for interest payment and part redemption
  • Effective Date: November 24, 2025 - Trading commences with reduced face value
  • Settlement: DR-762/2025-2026

Impact Assessment

Impact on Investors: PTC holders will receive partial redemption proceeds along with interest payment. The face value will be reduced by approximately 1.4% (from implied Rs. 14,000 to Rs. 13,800.25).

Market Impact: Limited market impact as this is a scheduled part redemption of a specific debt security. Only holders of TULIP GROWTH 12 2023 PTCs are affected.

Operational Impact: Trading systems need to be updated to reflect the reduced face value from the effective date. The security continues to trade with modified parameters until final maturity on June 28, 2026.

Impact Justification

Standard debt instrument part redemption affecting specific PTC holders with face value reduction from INR 14,000 to INR 13,800.25