Description
Axis Trustee Services Limited has informed the reduced face values for partial redemption of 10 Pass Through Certificates (PTCs) of various Vajra Trust series, effective November 27, 2025.
Summary
Axis Trustee Services Limited has informed BSE about the partial redemption of Pass Through Certificates (PTCs) across 10 different Vajra Trust series, resulting in reduced face values. The updated face values will be effective for trading from November 27, 2025. This is a routine corporate action for debt securities where partial redemption reduces the outstanding principal amount.
Key Points
- 10 different Vajra Trust PTC series are undergoing partial redemption
- Reduced face values range from Rs. 1,783,259.05 to Rs. 12,038,408.18 per PTC depending on the series
- PTCs will trade with reduced face values effective November 27, 2025
- All affected securities are in the debt segment
- Trading members are required to note these changes for accurate trading and settlement
Affected Securities
| Trust Series | ISIN | Scrip Code | Previous Rate | New Face Value (Rs.) |
|---|---|---|---|---|
| VAJRA 010 Trust | INE0YD715011 | 975785 | 9.50%-20-06-28 | 5,309,484.19 |
| VAJRA 009 Trust | INE0YD015016 | 975786 | 9.25%-20-11-26 | 1,967,587.69 |
| VAJRA 007 Trust | INE0UQJ15015 | 975577 | 9.75%-20-7-30 | 3,268,195.02 |
| Vajra 008 Trust | INE0UQO15015 | 975578 | 9.75%-20-2-27 | 2,912,282.86 |
| Vajra 012 Trust | INE10VT15014 | 975906 | 9.25%-20-10-28 | 3,143,655.18 |
| Vajra 012 Trust | INE10VT15022 | 975907 | 9.25%-20-1-31 | 8,857,275.86 |
| Vajra 011 Trust | INE116015012 | 975901 | 9.25%-20-9-27 | 4,549,259.96 |
| Vajra 014 Trust | INE1EJ815016 | 976276 | 9.25%-20-7-26 | 1,783,259.05 |
| Vajra 015 Trust | INE20NI15013 | 976743 | 9.25%-20-10-26 | 2,546,482.86 |
| Vajra 016 Trust | INE1ZSF15016 | 976719 | 9.25%-20-6-34 | 12,038,408.18 |
Regulatory Changes
No regulatory changes. This is a standard corporate action notification for partial redemption of debt securities.
Compliance Requirements
- Trading members must update their systems with the new reduced face values for all affected PTC series
- All trades in these PTCs from November 27, 2025 onwards must reflect the reduced face values
- Trading members should ensure proper valuation and settlement based on updated face values
- Reference: DR-765/2025-2026
Important Dates
- Notice Date: November 26, 2025
- Effective Date for Trading: November 27, 2025
- PTCs will trade with reduced face values from this date onwards
Impact Assessment
Market Impact: Medium - This affects 10 different PTC series in the debt segment. The partial redemption is a routine corporate action that reduces the outstanding principal amount of these securities.
Operational Impact: Trading members need to update their systems to reflect the new face values for accurate pricing, trading, and settlement. The impact is primarily operational, requiring system updates before the effective date.
Investor Impact: Investors holding these PTCs will receive partial redemption amounts, reducing their exposure to these securities. The reduced face values will affect the absolute returns on remaining investments, though the interest rates remain unchanged.
Impact Justification
Routine partial redemption of debt securities affecting multiple PTC series with updated face values for trading purposes