Description

TULIP GROWTH 12 2023 PTCs to undergo part redemption with reduced face value from Rs. 12500 to Rs. 11363.80 per PTC effective December 24, 2025.

Summary

BSE has notified that TULIP GROWTH 12 2023 has fixed the record date for part redemption of Pass Through Certificates (PTCs) and interest payment. Trading in these PTCs will commence with reduced face value effective December 24, 2025. The face value will be reduced from the original amount to Rs. 11,363.80 per PTC.

Key Points

  • Security: TULIP GROWTH 12 2023 PTCs (ISIN: INE0SDO15017, 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
  • Coupon Rate: 14.25%
  • Maturity Date: June 28, 2026

Regulatory Changes

No regulatory changes introduced. This is a standard corporate action notification for debt securities.

Compliance Requirements

  • Trading members must note that trading in TULIP GROWTH 12 2023 PTCs will be conducted with the reduced face value effective from December 24, 2025
  • Members should update their systems to reflect the new face value of Rs. 11,363.80 per PTC
  • Ensure proper settlement processing under settlement number DR-784/2025-2026

Important Dates

  • December 15, 2025: Circular issue date
  • December 24, 2025: Record date for part redemption and interest payment
  • December 24, 2025: Effective date for trading with reduced face value
  • June 28, 2026: Original maturity date of PTCs

Impact Assessment

Investor Impact: PTC holders will receive partial redemption proceeds and accrued interest on the record date. The reduced face value indicates a return of capital to investors ahead of final maturity.

Trading Impact: Medium - affects only holders and traders of this specific PTC issuance. Trading will continue with the new reduced face value from December 24, 2025.

Market Segment: Limited to debt segment participants dealing with TULIP GROWTH 12 2023 PTCs. No broader market implications.

Impact Justification

Part redemption affects PTC holders with face value reduction and interest payment; impacts specific debt instrument holders only.