Description
Trading suspended in JM Financial Products Limited debentures (JMFPL-8.8%-23-12-25-PVT) 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 effective December 8, 2025. The suspension is due to the company fixing the record date for redemption and interest payment on the debenture series JMFPL-8.8%-23-12-25-PVT (ISIN: INE523H07BX5, Code: 974922). Trading members are advised not to deal in these debentures from the specified date.
Key Points
- Trading suspension applies to specific NCD series: JMFPL-8.8%-23-12-25-PVT
- ISIN: INE523H07BX5
- BSE Scrip Code: 974922
- Coupon rate: 8.8% per annum
- Trading suspension begins on the record date itself
- Circular reference: DR-772/2025-2026
- Notice issued by Marian Dsouza, Assistant Vice President – Listing Compliance and Operations
Regulatory Changes
No regulatory changes. This is a standard corporate action notification in accordance with existing debt market regulations governing record date fixation for debenture redemption and interest payment.
Compliance Requirements
- Trading members must not execute any trades in the specified debenture series from December 8, 2025
- Trading members are required to take note of the suspension and ensure compliance
- No dealing permitted in JMFPL-8.8%-23-12-25-PVT debentures from the no-dealings date
Important Dates
- November 25, 2025: Notice date and circular issuance
- December 8, 2025: Record date for redemption and interest payment
- December 8, 2025: No dealings/trading suspension effective date
Impact Assessment
Market Impact: Low - This is a routine corporate action affecting a single debenture series of JM Financial Products Limited. The suspension is temporary and aligned with the scheduled redemption process.
Investor Impact: Holders of these debentures as of the record date will receive the final interest payment and redemption proceeds. Secondary market liquidity ceases from December 8, 2025, which is standard for maturing debt instruments.
Operational Impact: Trading members need to update their systems to block trading in this specific ISIN from the effective date. This is a standard operational procedure for debt market participants during redemption events.
Impact Justification
Routine corporate action affecting a single NCD series with predetermined redemption schedule. Limited market-wide impact as it involves standard debt instrument maturity process.