Description
BSE suspends trading in commercial papers of 15 companies including Godrej Housing Finance, HDFC Securities, Aditya Birla Housing Finance, and others due to upcoming redemption between December 1-2, 2025.
Summary
BSE has issued notice (DR-767/2025-2026 and DR-768/2025-2026) suspending trading in commercial papers of 15 companies effective from December 1-2, 2025. The suspension is due to companies fixing record dates for redemption of commercial papers. Trading members are advised not to deal in these securities from the specified dates.
Key Points
- 15 companies’ commercial papers affected by trading suspension
- Suspension dates: December 1, 2025 (4 companies) and December 2, 2025 (11 companies)
- Reason: Record date fixed for redemption of commercial papers
- Notice categories: DR-767/2025-2026 and DR-768/2025-2026
- Segment: Debt market
- Trading members instructed not to deal in these securities from suspension date
Regulatory Changes
No new regulatory changes. This is a standard operational notice implementing existing procedures for securities approaching redemption.
Compliance Requirements
- Trading members must cease dealing in the listed commercial papers from the specified “No Dealings From” dates
- Members must update their systems to reflect trading suspension for these securities
- Ensure clients are informed about the suspension and upcoming redemptions
Important Dates
December 1, 2025:
- Record Date and Trading Suspension for: Godrej Housing Finance Limited (INE02JD14575), HDFC Securities Limited (INE700G14PO6), Aditya Birla Housing Finance Limited (INE831R14FF5), Network 18 Media & Investments Limited (INE870H14VU0)
December 2, 2025:
- Record Date and Trading Suspension for: Credila Financial Services Limited (INE539K14BT9), Network 18 Media & Investments Limited (INE870H14VV8), HDFC Securities Limited (INE700G14PQ1), Reliance Retail Ventures Limited (INE929O14EA8), Tata Power Co. Ltd (INE245A14KE7), Nuvama Wealth and Investment Limited (INE523L14AI6), Bharat Heavy Electricals Ltd. (INE257A14AC7), Manappuram Finance Limited (INE522D14OS5), Himadri Speciality Chemical Ltd. (INE019C14631), KEC International Ltd. (INE389H14LG1), Lodha Developers Limited (INE670K14022)
Impact Assessment
Market Impact: Medium - affects debt market liquidity for 15 commercial paper instruments but represents normal market operations for maturing securities.
Operational Impact: Trading members must update their systems and ensure no transactions occur in these securities from suspension dates. Investors holding these instruments will receive redemption proceeds as per terms.
Sector Coverage: Diverse sectors affected including housing finance, securities broking, media, power, manufacturing, chemicals, and real estate, indicating broad market participation in commercial paper issuances.
Liquidity: Temporary suspension until redemption completion; standard procedure that investors and traders should anticipate for short-term debt instruments approaching maturity.
Impact Justification
Affects trading in commercial papers of 15 companies but is standard operational procedure for securities approaching redemption dates. Impact limited to debt market participants dealing with these specific instruments.