Description

TULIP GROWTH 12 2023 has fixed record date for payment of interest and part redemption of PTCs with reduced face value effective from December 24, 2025.

Summary

BSE has notified that TULIP GROWTH 12 2023 (ISIN: INE0SDO15017, Code: 975299) has set a record date of December 24, 2025 for payment of interest and part redemption of Pass Through Certificates (PTCs). Trading in these PTCs will occur with reduced face value effective from the same date.

Key Points

  • Security: TULIP GROWTH 12 2023 (TG1223-14.25%-28-6-26-PTC)
  • ISIN: INE0SDO15017
  • BSE Code: 975299
  • Record Date: December 24, 2025
  • Purpose: Part redemption of PTCs and payment of interest
  • Reduced Face Value: Rs. 11,363.80 per PTC
  • Effective Date: December 24, 2025
  • Settlement Number: DR-784/2025-2026

Regulatory Changes

No regulatory framework changes. This is a corporate action notice pursuant to existing debt servicing obligations.

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 from the effective date onwards must reflect the new reduced face value
  • Members should update their systems accordingly to reflect the part redemption

Important Dates

  • Notice Date: December 15, 2025
  • Record Date: December 24, 2025
  • Effective Date for Reduced Face Value: December 24, 2025
  • Settlement Number: DR-784/2025-2026

Impact Assessment

Investor Impact: PTC holders on record as of December 24, 2025 will receive partial redemption proceeds and interest payment. The face value per PTC will be reduced to Rs. 11,363.80, affecting the nominal value of holdings.

Market Impact: Limited market-wide impact as this affects a single debt security. Trading will continue with adjusted face value post the record date.

Operational Impact: Trading members need to ensure their systems reflect the reduced face value from the effective date to avoid settlement discrepancies.

Impact Justification

Routine corporate action affecting debt instrument holders with part redemption reducing face value from original to Rs. 11,363.80 per PTC