Description
BSE announces part redemption and interest payment for TULIP GROWTH 12 2023 PTCs with reduced face value effective December 24, 2025.
Summary
BSE has announced that TULIP GROWTH 12 2023 will undertake part redemption of its Pass Through Certificates (PTCs) along with interest payment. The record date is set for December 24, 2025, and trading in these PTCs will commence with reduced face value from the same date.
Key Points
- Security: TULIP GROWTH 12 2023 (14.25% PTCs maturing 28-6-26)
- ISIN: INE0SDO15017
- BSE Code: 975299
- Record Date: December 24, 2025
- Purpose: Part redemption of PTCs and payment of interest
- New reduced face value: Rs. 11,363.80 per PTC
- Effective date: December 24, 2025
- Settlement number: DR-784/2025-2026
Regulatory Changes
No regulatory changes introduced. This is a standard corporate action notification.
Compliance Requirements
- Trading members must note that trading in TULIP GROWTH 12 2023 PTCs will be conducted with the reduced face value of Rs. 11,363.80 per PTC effective from December 24, 2025
- All trades executed on or after the effective date must reflect the reduced face value
Important Dates
- Record Date: December 24, 2025 - For determining eligible PTC holders for interest payment and part redemption
- Effective Date: December 24, 2025 - Trading begins with reduced face value
- Settlement: DR-784/2025-2026
Impact Assessment
Market Impact: Medium - Affects holders of TULIP GROWTH 12 2023 PTCs who will receive partial redemption proceeds and interest payment. The reduced face value adjustment will impact pricing and valuation of remaining holdings.
Operational Impact: Trading members need to ensure their systems reflect the reduced face value for accurate trade execution and settlement from the effective date.
Impact Justification
Standard part redemption of PTCs affecting specific debt instrument holders with reduced face value adjustment