Description
BSE announces suspension of trading in commercial papers of 19 issuers due to upcoming redemption with record dates between December 8-11, 2025.
Summary
BSE has issued notice DR-772 to DR-775/2025-2026 regarding suspension of trading in commercial papers of 19 companies. Trading members are advised not to deal in these commercial papers from their respective record dates set for redemption purposes. The suspensions take effect between December 8-11, 2025.
Key Points
- 19 commercial papers from various issuers are being suspended for redemption
- Record dates range from December 8, 2025 to December 11, 2025
- Majority of suspensions (15 out of 19) effective from December 11, 2025
- Issuers include financial services companies, NBFCs, and large corporates
- Trading members must not deal in these securities from their respective no-dealings dates
- Notice references: DR-772/2025-2026 through DR-775/2025-2026
Regulatory Changes
No regulatory changes. This is a standard corporate action notification for commercial paper redemptions.
Compliance Requirements
- Trading members must immediately cease trading in the listed commercial papers from their specified no-dealings dates
- No deals should be executed in SBICAP Securities Limited CPs from December 8, 9, and 10, 2025 respectively for three different series
- No deals should be executed in IndoStar Capital Finance Limited CP from December 11, 2025
- No deals should be executed in 15 other commercial papers from December 11, 2025
- Members must update their trading systems to reflect these suspensions
Important Dates
- December 8, 2025: Record date and trading suspension for SBICAP Securities Limited SSL-9-12-25-CP (INE212K14CB9)
- December 9, 2025: Record date and trading suspension for SBICAP Securities Limited SSL-10-12-25-CP (INE212K14CA1)
- December 10, 2025: Record date and trading suspension for SBICAP Securities Limited SBICAPSL-11-12-2025-CP (INE212K14CD5)
- December 11, 2025: Record date and trading suspension for 15 commercial papers including IndoStar Capital Finance, SBI Cards, Pilani Investment, Network 18, Aditya Birla Housing Finance, IGH Holdings, Axis Finance, Mahindra Lifespace, Tata Realty, 360 ONE WAM, Infina Finance, Grasim Industries, Bajaj Financial Securities, Shree Cements, and Redington Limited
Impact Assessment
Market Impact: Limited to debt market participants dealing in commercial papers. The simultaneous redemption of 15 commercial papers on December 11, 2025 indicates typical quarter-end/year-end liquidity management by issuers.
Liquidity Impact: Investors holding these commercial papers will receive redemption proceeds on respective maturity dates, potentially redeploying funds into new instruments.
Operational Impact: Trading members must ensure compliance systems are updated to prevent inadvertent trades in suspended securities. Failures could result in trade cancellations or regulatory action.
Issuer Profile: Diverse mix including major financial institutions (SBI Cards, Axis Finance), NBFCs (IndoStar, Aditya Birla Housing Finance), wealth managers (360 ONE WAM), and large corporates (Grasim, Shree Cements, Tata Realty), indicating healthy commercial paper market activity across sectors.
Impact Justification
Routine commercial paper redemptions affecting 19 issuers. Standard corporate action with limited market-wide impact, primarily affecting debt segment traders and specific CP holders.