Description

BSE suspends trading in SCNL debentures (INE836B07675) from November 26, 2025 due to record date for redemption on exercise of PUT option and interest payment.

Summary

BSE has issued a mandatory suspension of trading in specific non-convertible debentures of SATIN CREDITCARE NETWORK LIMITED effective November 26, 2025. The suspension is implemented due to the company fixing a record date for redemption on exercise of PUT option and payment of interest. Trading members are strictly advised not to deal in the specified debenture series.

Key Points

  • Trading suspension applies to debenture series INE836B07675 (Code: 974417)
  • Debenture series: SCNL-12.15%-12-12-27-PVT
  • Record date set for November 26, 2025
  • Purpose: Redemption on exercise of PUT option and payment of interest
  • No dealings permitted from November 26, 2025
  • Notice reference: DR-764/2025-2026
  • Notice number: 20251121-6

Regulatory Changes

No new regulatory framework changes. This is a standard operational suspension pursuant to existing BSE regulations governing record date procedures for debt securities.

Compliance Requirements

  • Trading members must immediately cease all trading activities in the specified debenture series (INE836B07675)
  • No buy or sell orders to be accepted for this debenture from November 26, 2025
  • Trading members must update their systems to reflect the trading suspension
  • Members must inform clients holding or interested in these debentures about the suspension

Important Dates

  • November 21, 2025: Circular issued by BSE
  • November 26, 2025: Record date for redemption and interest payment; trading suspension effective from this date
  • December 12, 2027: Debenture maturity date (as per series nomenclature)

Impact Assessment

Market Impact: High impact on holders of this specific debenture series. Investors holding these debentures will be unable to trade them from the suspension date. Those eligible as per the record date will receive interest payment and can exercise their PUT option for redemption.

Operational Impact: Trading members must immediately update their systems and client communications. The suspension affects liquidity for this debt instrument and requires prompt action from trading desks handling debt securities.

Investor Impact: Debenture holders with PUT options must have made their decision before the record date. Post-suspension, secondary market exit is not possible, making the PUT option exercise critical for investors seeking early redemption.

Impact Justification

Complete trading suspension on specific debentures affects debt security holders and requires immediate action from trading members. High severity due to mandatory no dealings instruction.