Description
Axis Trustee Services Limited has informed about the partial redemption and reduced face values for 10 Pass Through Certificates (PTCs) of Vajra Trust, effective November 27, 2025.
Summary
Axis Trustee Services Limited has notified BSE about the partial redemption of 10 Pass Through Certificates (PTCs) issued by various Vajra Trust series. The redemption results in reduced face values for these PTCs, which will be effective for trading from November 27, 2025. This is a routine corporate action affecting debt segment securities.
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
- Trading members must note the new reduced face values for trading purposes
- Changes are effective from November 27, 2025
- All affected PTCs have coupon rates between 9.25% to 9.75%
- Maturity dates range from 2026 to 2034 across different series
Regulatory Changes
No regulatory changes introduced. This is a notification of a corporate action (partial redemption) as per existing debt securities regulations.
Compliance Requirements
- Trading members must ensure PTCs are traded with the updated reduced face values from November 27, 2025
- Trading members are required to take note of the face value changes for accurate trade execution and settlement
- Reference: DR-765/2025-2026
Important Dates
- Notice Date: November 26, 2025
- Effective Date for Trading: November 27, 2025
Impact Assessment
Market Impact: Low - This is a routine partial redemption process for debt securities that affects only specific PTC holders of Vajra Trust series.
Operational Impact: Low - Trading members need to update their systems with new face values for the 10 affected PTCs. The change is administrative in nature and follows standard partial redemption procedures.
Investor Impact: Investors holding these PTCs will receive partial redemption amounts, and their holdings will reflect the reduced face values. The coupon structure and maturity dates remain unchanged.
Affected Securities Details
| Trust Series | ISIN | Scrip Code | Coupon | Maturity | New Face Value (Rs.) |
|---|---|---|---|---|---|
| Vajra 010 | INE0YD715011 | 975785 | 9.50% | Jun 2028 | 5,309,484.19 |
| Vajra 009 | INE0YD015016 | 975786 | 9.25% | Nov 2026 | 1,967,587.69 |
| Vajra 007 | INE0UQJ15015 | 975577 | 9.75% | Jul 2030 | 3,268,195.02 |
| Vajra 008 | INE0UQO15015 | 975578 | 9.75% | Feb 2027 | 2,912,282.86 |
| Vajra 012 (Series 1) | INE10VT15014 | 975906 | 9.25% | Oct 2028 | 3,143,655.18 |
| Vajra 012 (Series 2) | INE10VT15022 | 975907 | 9.25% | Jan 2031 | 8,857,275.86 |
| Vajra 011 | INE116015012 | 975901 | 9.25% | Sep 2027 | 4,549,259.96 |
| Vajra 014 | INE1EJ815016 | 976276 | 9.25% | Jul 2026 | 1,783,259.05 |
| Vajra 015 | INE20NI15013 | 976743 | 9.25% | Oct 2026 | 2,546,482.86 |
| Vajra 016 | INE1ZSF15016 | 976719 | 9.25% | Jun 2034 | 12,038,408.18 |
Impact Justification
Routine partial redemption of debt securities affecting specific PTC holders of Vajra Trust with updated face values for trading purposes