Description

BSE suspends trading in two series of non-convertible debentures of ICL FINCORP LIMITED effective December 17, 2025, due to upcoming redemption and interest payment.

Summary

BSE has issued Notice No. 20251212-78 directing trading members to suspend dealings in two series of non-convertible debentures (NCDs) issued by ICL FINCORP LIMITED effective December 17, 2025. The suspension is mandated due to the company fixing the record date for redemption of debentures and payment of interest.

Key Points

  • Two NCD series affected: ICLFL-11%-02-01-26-NCD (ISIN: INE01CY078Q3, Code: 939917) and ICLFL-02-1-26-NCD (ISIN: INE01CY078N0, Code: 939925)
  • Record date fixed: December 17, 2025
  • No dealings permitted from: December 17, 2025
  • Purpose: Redemption of debentures and payment of interest
  • Circular reference: DR-779/2025-2026
  • Trading members are strictly advised not to deal in the mentioned debentures

Regulatory Changes

No new regulatory changes introduced. This circular enforces existing suspension protocols when issuers fix record dates for corporate actions on debt securities.

Compliance Requirements

  • Trading members must cease all trading activities in the specified NCDs from December 17, 2025
  • Members must ensure no buy or sell orders are executed for ISIN INE01CY078Q3 and INE01CY078N0
  • Compliance with suspension directive is mandatory for all BSE trading members
  • Members should inform their clients holding these debentures about the suspension

Important Dates

  • Notice Date: December 12, 2025
  • Record Date: December 17, 2025
  • Suspension Effective From: December 17, 2025
  • Corporate Action: Redemption and interest payment on record date

Impact Assessment

Market Impact: Limited to holders of the two specific NCD series. The suspension prevents trading for a defined period to facilitate orderly redemption and interest payment processing.

Investor Impact: Debenture holders will receive their redemption proceeds and interest payments as per the terms. Liquidity is temporarily restricted but this is standard procedure for corporate actions.

Operational Impact: Trading members must update their systems to block trading in these ISINs from December 17, 2025. Back-office teams need to process redemption and interest payments for clients holding these securities as of the record date.

Impact Justification

Trading suspension affects specific debenture holders but limited to two NCD series of a single issuer with clear timeline