Description

BSE suspends trading in commercial papers of 10 companies including Kotak Mahindra Investments, Nuvama Wealth Management, Axis Securities, and others due to scheduled redemptions between November 28 and December 7, 2025.

Summary

BSE has announced the suspension of trading in commercial papers issued by 10 companies due to scheduled redemptions. The companies have fixed record dates for redemption purposes, and trading members are advised not to deal in these commercial papers from the specified no-dealings dates. The suspensions range from November 28, 2025 to December 7, 2025.

Key Points

  • 10 commercial paper instruments will have trading suspended
  • Record dates set between November 28 and December 7, 2025
  • Trading members advised not to deal in specified commercial papers from no-dealings dates
  • Notice number: DR-766/2025-2026 and DR-771/2025-2026
  • All suspensions are for redemption purposes
  • Affects debt segment of BSE

Affected Securities

November 28, 2025 Record Date

  • Kotak Mahindra Investments Limited (KMIL-1-12-25-CP, INE975F14C58) - No dealings from Nov 28, 2025

December 5, 2025 Record Date

  • Nuvama Wealth Management Limited (NWML-08-12-25-CP, INE531F14EX2) - No dealings from Dec 5, 2025
  • Axis Securities Limited (ASL-8-12-25-CP, INE110O14FX4) - No dealings from Dec 5, 2025
  • SBI Cards and Payment Services Limited (SBICPSL-8-12-25-CP, INE018E14PP5) - No dealings from Dec 5, 2025
  • Mirae Asset Financial Services (India) Private Limited (MAFSPL-8-12-25-CP, INE0JRU14263) - No dealings from Dec 5, 2025
  • Reliance Retail Ventures Limited (RRVL-8-12-25-CP, INE929O14EB6) - No dealings from Dec 5, 2025
  • Tata Steel Limited (TSL-8-12-25-CP, INE081A14GD6) - No dealings from Dec 5, 2025
  • Reliance Jio Infocomm Limited (RJIL-8-12-25-CP, INE110L14UH2) - No dealings from Dec 5, 2025

December 7, 2025 Record Date

  • Navi Finserv Limited (NFL-8-12-25-CP, INE342T14ED7) - No dealings from Dec 5, 2025
  • Fedbank Financial Services Limited (FFSL-08-12-25-CP, INE007N14EF4) - No dealings from Dec 5, 2025

Compliance Requirements

  • Trading members must not deal in the specified commercial papers from the no-dealings dates
  • All affected instruments will cease trading on their respective suspension dates
  • Members should update their systems to reflect the trading suspensions

Important Dates

  • November 26, 2025: Circular issue date
  • November 28, 2025: Trading suspension and record date for Kotak Mahindra Investments Limited CP
  • December 5, 2025: Trading suspension for 8 commercial papers (various record dates Dec 5 and Dec 7)
  • December 7, 2025: Record date for Navi Finserv and Fedbank Financial Services CPs

Impact Assessment

This circular has limited market-wide impact as it pertains to routine redemptions of commercial paper instruments. The temporary trading suspensions are standard procedures when companies redeem their short-term debt securities. Investors holding these instruments should be aware of the upcoming redemptions. The suspensions affect the debt market segment only and involve well-known financial services companies and large corporates. No unusual market disruption is expected as these are planned corporate actions.

Impact Justification

Routine commercial paper redemptions affecting 10 instruments with temporary trading suspensions. Standard corporate action with limited market-wide impact, primarily affecting specific debt instruments.