Description

BSE suspends trading in commercial paper of 13 companies including Credila Financial Services, Standard Chartered Capital, and Adani Enterprises due to redemption with record dates on November 27-28, 2025.

Summary

BSE has announced the suspension of trading in commercial paper of 13 companies effective November 27-28, 2025. The suspension is due to the companies fixing record dates for redemption of their commercial paper instruments. Trading members are advised not to deal in these securities from the specified dates. Notice DR-765/2025-2026 covers 12 companies with November 27 suspension, while DR-766/2025-2026 covers CaratLane with November 28 suspension.

Key Points

  • 13 companies affected by trading suspension for commercial paper redemption
  • 12 companies have record date of November 27, 2025 with trading suspended from November 27
  • 1 company (CaratLane) has record date of November 28, 2025 with trading suspended from November 28
  • Trading members explicitly instructed not to deal in these commercial paper instruments
  • All suspensions are for redemption purposes as per standard corporate action procedures

Affected Companies and Securities

Suspended from November 27, 2025:

  • Credila Financial Services Limited (ISIN: INE539K14BS1, Code: 728323)
  • Standard Chartered Capital Limited (ISIN: INE403G14SV6, Code: 728325)
  • Julius Baer Capital (India) Private Limited (ISIN: INE824H14QU7, Code: 728328)
  • Infina Finance Private Limited (ISIN: INE879F14KA0, Code: 728381)
  • Nuvama Wealth and Investment Limited (ISIN: INE523L14864, Code: 728412)
  • IndoStar Capital Finance Limited (ISIN: INE896L14EU3, Code: 729318)
  • Adani Enterprises Ltd. (ISIN: INE423A14XN4, Code: 729506)
  • Tata Steel Limited (ISIN: INE081A14GC8, Code: 730126)
  • KEC International Ltd. (ISIN: INE389H14LF3, Code: 730133)
  • Larsen & Toubro Limited (ISIN: INE018A14LQ0, Code: 730247)
  • DSP Finance Private Limited (ISIN: INE422H14073, Code: 730338)
  • BOBCARD Limited (ISIN: INE027214894, Code: 730464)

Suspended from November 28, 2025:

  • CaratLane Trading Private Limited (ISIN: INE015Y14633, Code: 730130)

Regulatory Changes

No new regulatory changes. This circular implements standard BSE procedures for suspension of trading in debt instruments prior to redemption.

Compliance Requirements

  • Trading members must not execute any deals in the specified commercial paper instruments from the suspension dates
  • Members must ensure their systems and processes reflect the trading suspension for these ISINs
  • No dealings permitted from November 27, 2025 for 12 instruments and November 28, 2025 for 1 instrument

Important Dates

  • November 21, 2025: Notice issued
  • November 27, 2025: Record date and trading suspension effective for 12 companies
  • November 28, 2025: Record date and trading suspension effective for CaratLane Trading Private Limited

Impact Assessment

Market Impact: Medium - affects debt market participants holding or trading these specific commercial paper instruments. The suspension is temporary and related to scheduled redemptions.

Operational Impact: Medium - trading members must ensure compliance with suspension directives and update their systems accordingly. Investors holding these instruments should be aware that liquidity will be unavailable from the suspension dates.

Investor Impact: Holders of these commercial paper instruments will receive redemption proceeds as per the terms of their investments. No secondary market trading will be available from the suspension dates until redemption is completed.

Impact Justification

Routine suspension affecting 13 commercial paper instruments for redemption purposes. Standard corporate action with limited broader market impact but important for debt market participants and holders of these specific instruments.