Description

Trading suspended in JM Financial Products Limited debentures (INE523H07BX5) from December 8, 2025 due to redemption and interest payment with record date set for the same day.

Summary

BSE has announced the suspension of trading in Non-Convertible Debentures (NCDs) of JM Financial Products Limited (ISIN: INE523H07BX5, Code: 974922) effective December 8, 2025. The suspension is implemented in connection with the company’s record date fixation for redemption of debentures and payment of interest. Trading members are instructed not to deal in these debentures from the specified date.

Key Points

  • Debenture ISIN: INE523H07BX5 (JMFPL-8.8%-23-12-25-PVT)
  • BSE Code: 974922
  • Record Date: December 8, 2025
  • Purpose: Redemption of Debentures and Payment of Interest
  • No dealings permitted from: December 8, 2025
  • Notice Reference: DR-772/2025-2026
  • Coupon Rate: 8.8%
  • Issuer: JM Financial Products Limited

Regulatory Changes

No regulatory framework changes. This is a standard corporate action notification as per existing BSE debt market regulations governing debenture redemption and interest payment procedures.

Compliance Requirements

  • Trading Members: Must not execute any trades in the specified debentures (INE523H07BX5) from December 8, 2025 onwards
  • Trading Members: Required to take note of the suspension and inform their clients accordingly
  • Market Participants: Should close out positions or adjust portfolios before the no-dealings date
  • Debenture Holders: Ensure holdings are properly recorded in demat accounts before record date for redemption and interest payment eligibility

Important Dates

  • November 25, 2025: Circular issued by BSE
  • December 8, 2025: Record Date for redemption and interest payment
  • December 8, 2025: Trading suspension effective date (no dealings from this date)

Impact Assessment

Market Impact: Limited to holders and traders of this specific debenture series. The trading suspension is procedural and relates to a single debt instrument approaching maturity.

Investor Impact: Medium - Debenture holders will receive their redemption amount and final interest payment as per the terms. Investors unable to exit positions before December 8, 2025 will need to hold until redemption.

Liquidity Impact: Trading liquidity for this specific debenture series will cease from the record date, which is standard practice for debt securities undergoing redemption.

Operational Impact: Trading members must update their systems to prevent trading in this security and communicate the suspension to relevant clients holding or trading this debenture.

Impact Justification

High severity due to trading suspension but medium impact as it affects specific debenture holders only. Standard corporate action for debt securities approaching maturity.