Description

BSE suspends trading in commercial paper of 10 companies due to upcoming redemption with record dates between December 12-15, 2025.

Summary

BSE has issued Notice No. 20251210-7 informing trading members about the suspension of trading in commercial paper of 10 companies due to upcoming redemption. The suspension is effective from the respective record dates set between December 12-15, 2025. Trading members are advised not to deal in these commercial papers from the specified no-dealings dates.

Key Points

  • 10 companies have fixed record dates for commercial paper redemption
  • Trading suspension applies to debt segment
  • Notice issued by Marian Dsouza, Assistant Vice President – Listing Compliance and Operations
  • Notice references: DR-776/2025-2026 and DR-777/2025-2026
  • All affected instruments are commercial papers with specific ISIN codes

Regulatory Changes

No regulatory changes. This is a routine corporate action notification for commercial paper redemptions.

Compliance Requirements

  • Trading members must not deal in the listed commercial papers from their respective no-dealings dates
  • Trading members must observe the record dates for redemption purposes
  • Members should update their systems to prevent transactions in these instruments from the suspension dates

Important Dates

December 12, 2025:

  • SBICAP Securities Limited (INE212K14CF0/730239) - Record Date and No Dealings From Date

December 15, 2025:

  • Godrej Finance Limited (INE02KN14408/728463) - Record Date and No Dealings From Date
  • Vertis Infrastructure Trust (INE0KXY14030/728473) - Record Date and No Dealings From Date
  • Julius Baer Capital (India) Private Limited (INE824H14SJ6/730243) - Record Date and No Dealings From Date
  • HDFC Securities Limited (INE700G14PY5/730245) - Record Date and No Dealings From Date
  • Bajaj Financial Securities Limited (INE01C314CT1/730246) - Record Date and No Dealings From Date
  • SBICAP Securities Limited (INE212K14CG8/730248) - Record Date and No Dealings From Date
  • DSP Finance Private Limited (INE422H14024/730288) - Record Date and No Dealings From Date
  • Tata Steel Limited (INE081A14GH7/730409) - Record Date and No Dealings From Date
  • Redington Limited (INE891D14A87/730417) - Record Date and No Dealings From Date

Impact Assessment

Market Impact: Medium - affects debt market liquidity for specific commercial paper instruments

Operational Impact: Medium - trading members must ensure compliance with no-dealings restriction across 10 different commercial paper issues

Investor Impact: Low to Medium - investors holding these commercial papers will receive redemption proceeds as per scheduled maturity, but cannot trade these instruments from suspension dates

Affected Entities: Debt market participants, institutional investors, treasury desks, and trading members dealing in commercial paper of the listed issuers including financial services companies (SBICAP, Godrej Finance, Julius Baer, HDFC Securities, Bajaj Financial Securities, DSP Finance), infrastructure trust (Vertis), and corporates (Tata Steel, Redington)

Impact Justification

Routine commercial paper redemptions affecting debt market participants. Medium impact as it involves 10 issuers but is a standard corporate action procedure.