Description

Greater Visakhapatnam Municipal Corporation has fixed record date for part redemption of bonds and interest payment, with reduced face value effective December 5, 2025.

Summary

Greater Visakhapatnam Municipal Corporation has announced part redemption of its 10% bonds maturing on December 21, 2028 (ISIN: INE423G07051). The company has fixed a record date for payment of interest and part redemption, with trading in the bonds to commence with reduced face value from December 5, 2025.

Key Points

  • Bond: GVMC-10%-21-12-28-MB (Scrip Code: 929004)
  • ISIN: INE423G07051
  • Record Date: December 5, 2025
  • Purpose: Part redemption of bonds and payment of interest
  • Reduced face value: Rs. 750,000 per bond
  • Trading with reduced face value effective from December 5, 2025
  • Settlement Number: DR-771/2025-2026

Regulatory Changes

No regulatory changes. This is a corporate action notification for part redemption of bonds.

Compliance Requirements

  • Trading members must note that trading in the bonds will be conducted with reduced face value of Rs. 750,000 per bond from the effective date
  • All trading members should update their systems to reflect the reduced face value
  • Bondholders on record as of December 5, 2025 will be eligible for interest payment and part redemption

Important Dates

  • Record Date: December 5, 2025
  • Effective Date for Reduced Face Value Trading: December 5, 2025
  • Settlement Number: DR-771/2025-2026
  • Notice Date: December 4, 2025

Impact Assessment

Market Impact: Medium - affects bondholders of Greater Visakhapatnam Municipal Corporation bonds

Operational Impact: Trading members need to ensure their systems reflect the reduced face value of Rs. 750,000 per bond from December 5, 2025. The part redemption will reduce the outstanding principal amount of the bonds and bondholders will receive partial repayment along with interest payment on the record date.

Impact Justification

Part redemption of municipal corporation bonds affects bondholders and requires attention to reduced face value trading effective from record date