Description
TULIP GROWTH 12 2023 has fixed record date for payment of interest and part redemption of Pass Through Certificates (PTCs) with reduced face value effective December 24, 2025.
Summary
BSE has notified that TULIP GROWTH 12 2023 has fixed the record date for payment of interest and part redemption of its Pass Through Certificates (PTCs). Trading in these PTCs will commence with a reduced face value of Rs. 11,363.80 per PTC effective December 24, 2025.
Key Points
- ISIN: INE0SDO15017 (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 for reduced face value trading: December 24, 2025
- Settlement number: DR-784/2025-2026
Regulatory Changes
No regulatory changes. This is a routine 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 from December 24, 2025
- Trading members should update their systems to reflect the new face value
Important Dates
- Record Date: December 24, 2025 - for determining PTC holders eligible for interest payment and part redemption
- Effective Date: December 24, 2025 - trading commences with reduced face value of Rs. 11,363.80 per PTC
- Settlement: DR-784/2025-2026
Impact Assessment
This circular has minimal market-wide impact as it pertains only to holders of TULIP GROWTH 12 2023 PTCs. The part redemption will result in a reduced face value for the remaining outstanding PTCs. PTC holders will receive partial redemption proceeds and accrued interest as per the record date. Trading members dealing in this specific debt instrument need to update their systems to reflect the reduced face value from the effective date.
Impact Justification
Routine debt instrument redemption affecting specific PTC holders only, limited market-wide impact