Description
GVMC bonds will undergo part redemption with face value reduced to Rs. 750,000 per bond effective December 5, 2025, along with interest payment.
Summary
Greater Visakhapatnam Municipal Corporation (GVMC) has announced part redemption of its 10% bonds (ISIN: INE423G07051) maturing on December 21, 2028. The record date for this redemption and interest payment is December 5, 2025. Following the part redemption, the face value of each bond will be reduced to Rs. 750,000. Trading in these bonds will commence with the reduced face value from December 5, 2025.
Key Points
- Bond Code: GVMC-10%-21-12-28-MB (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
- Effective date: December 5, 2025
- Settlement number: DR-771/2025-2026
Regulatory Changes
No regulatory changes introduced. This is a corporate action notification for existing debt securities.
Compliance Requirements
Trading members must note that trading in GVMC bonds will be conducted with the reduced face value of Rs. 750,000 per bond effective from December 5, 2025. Members should update their systems and records accordingly to reflect the revised face value.
Important Dates
- December 5, 2025: Record date for part redemption and interest payment
- December 5, 2025: Effective date for trading with reduced face value (Settlement DR-771/2025-2026)
Impact Assessment
This part redemption provides liquidity to bondholders while the bonds remain listed with reduced face value. The impact is limited to holders of GVMC municipal bonds. Trading members need to update their systems to reflect the new face value for proper settlement and accounting. The bond continues to trade on the exchange with its revised principal amount.
Impact Justification
Affects bondholders of GVMC 10% bonds maturing in 2028 through part redemption and face value reduction, routine corporate action for debt securities