Description

BSE suspends trading in commercial papers of 25 companies from December 19-21, 2025, due to upcoming redemptions.

Summary

BSE has issued a notice suspending trading in commercial papers of 25 companies effective December 19, 2025, due to record dates fixed for redemption purposes. The suspension affects major corporate issuers including Tata Steel, Reliance Jio Infocomm, Bajaj Financial Securities, and others. Trading members are advised not to deal in these securities from the specified dates.

Key Points

  • 25 companies have fixed record dates for commercial paper redemption
  • Most suspensions begin December 19, 2025; two begin December 21, 2025
  • All affected securities have ISINs and specific BSE codes listed
  • Notice issued under reference DR-781/2025-2026
  • Covers diverse sectors including financial services, infrastructure, steel, power, and retail

Regulatory Changes

No regulatory changes. This is a standard operational notice for routine commercial paper redemptions.

Compliance Requirements

  • Trading members must not deal in the listed commercial papers from the specified “No Dealings From” dates
  • Members should update their systems to reflect trading suspensions
  • Compliance with record date requirements for redemption processing

Important Dates

December 19, 2025:

  • No dealings from date for 23 commercial papers
  • Record date for 23 issuers

December 21, 2025:

  • Record date for Navi Finserv Limited (CP: INE342T14CT7)
  • Record date for Electrosteel Castings Ltd (CP: INE086A14881)

Impact Assessment

Market Impact: Medium - affects short-term debt market liquidity across 25 commercial paper instruments. However, redemptions are routine scheduled events.

Operational Impact: Trading members need to ensure systems prevent trading in suspended instruments. Investors holding these commercial papers will receive redemption proceeds as per terms.

Sector Coverage: Broad impact across financial services (Navi, IndoStar, Muthoot Capital, Kotak Mahindra, Nuvama), infrastructure (Tata Housing, Ashoka Buildcon, KEC International), manufacturing (Tata Steel, Shree Cements, Birla Corporation), and telecom (Reliance Jio, Jio Credit).

Investor Impact: Routine redemption process; investors should ensure their demat accounts are updated for timely credit of redemption proceeds.

Impact Justification

Affects debt market liquidity for 25 commercial paper issuers with near-term redemptions, but is routine corporate action with limited systemic impact