Description

BSE announces listing of new debt securities worth Rs. 303.38 crore issued by RAFALE - 2025 on private placement basis, with 11.50% interest rate and maturity date of May 17, 2028.

Summary

BSE has listed new debt securities issued by RAFALE - 2025 on private placement basis effective December 3, 2025. The Pass Through Certificates (PTCs) carry an 11.50% per annum interest rate with monthly interest payments and mature on May 17, 2028. The securities are rated ICRA A(SO) and will trade in dematerialized form only on the BSE Debt segment.

Key Points

  • Issue Size: 303,377,462 units (approximately Rs. 303.38 crore at face value)
  • Scrip Code: 977338
  • Scrip ID: 115RFALE28
  • ISIN: INE2NN915016
  • Face Value: Rs. 1.00 per unit
  • Issue Price: Rs. 1.00 per unit
  • Market Lot: 100,000 units
  • Credit Rating: ICRA A(SO) (Structured Obligation)
  • Interest Rate: 11.50% per annum
  • Interest Payment: Monthly from December 17, 2025 to May 17, 2028
  • Allotment Date: November 28, 2025
  • Listing Date: December 3, 2025
  • Tick Size: 1 paise
  • Put/Call Option: Not Available

Regulatory Changes

No regulatory changes introduced. This is a standard listing notification for new debt securities.

Compliance Requirements

  • Trading members must trade these securities only in dematerialized form under ISIN INE2NN915016
  • Members should refer to the Placement Memorandum available at https://www.bseindia.com/markets/debt/memorandum_data.aspx for detailed information
  • Standard BSE Debt segment trading rules and settlement procedures apply
  • For clarifications, trading members may contact the BSE debt department at 22728352/8597/8995/5753/8915

Important Dates

  • Allotment Date: November 28, 2025
  • Listing Date: December 3, 2025
  • First Interest Payment: December 17, 2025
  • Subsequent Interest Payments: Monthly on the 17th of each month
  • Final Interest Payment: May 17, 2028
  • Redemption Date: May 17, 2028

Impact Assessment

Market Impact: Low - This is a routine debt security listing with no impact on equity markets or broader market operations.

Investor Impact: Limited to institutional investors and qualified buyers participating in private placement of structured debt instruments. The ICRA A(SO) rating indicates adequate credit quality for the structured obligation.

Trading Impact: Minimal - The securities will be available for trading on BSE Debt segment with standard market lot of 100,000 units. The monthly interest payment structure provides regular cash flows to investors.

Operational Impact: No changes to existing trading systems or procedures. Standard dematerialized trading protocols apply.

Impact Justification

Routine debt security listing announcement on private placement basis with limited market-wide impact, relevant primarily to debt segment participants and institutional investors.