Description

Revised terms for debt securities of Aethon Developers Private Limited including change in ISIN, scrip ID, and coupon rate structure effective December 17, 2025.

Summary

BSE has issued an update regarding debt securities of Aethon Developers Private Limited (ADPL). In continuation to notice number 20251015-25 dated October 15, 2025, the debt security under scrip code 976099 will be available for trading with revised terms effective December 17, 2025. The key changes include modification of ISIN, scrip ID, abbreviated name, and a shift from fixed 11% coupon rate to a reset rate structure.

Key Points

  • Scrip Code 976099 will continue with revised parameters
  • ISIN changed from INE15S307015 to INE15S307023
  • Scrip ID and Abbreviated Name changed from 11ADPL27 to RRADPL27
  • Coupon rate changed from fixed 11% to RESET RATE
  • Scrip Long Name updated from “ADPL-11%-RESET RATE-14-4-27-PVT” to “ADPL-RESET RATE-14-4-27-PVT”
  • Maturity date remains April 14, 2027
  • This is a continuation of previous notice dated October 15, 2025

Regulatory Changes

The debt security undergoes structural changes in its trading parameters:

Old Parameters:

  • ISIN: INE15S307015
  • Scrip ID/Abbreviated Name: 11ADPL27
  • Coupon Rate: 11% (Fixed)
  • Long Name: ADPL-11%-RESET RATE-14-4-27-PVT

New Parameters:

  • ISIN: INE15S307023
  • Scrip ID/Abbreviated Name: RRADPL27
  • Coupon Rate: RESET RATE
  • Long Name: ADPL-RESET RATE-14-4-27-PVT

The change reflects a transition from a fixed interest rate structure to a floating/reset rate mechanism.

Compliance Requirements

  • Trading Members must note the revised terms for scrip code 976099
  • Trading Members should update their systems to reflect the new ISIN (INE15S307023)
  • All trading and settlement activities from December 17, 2025 onwards must use the new parameters
  • Trading Members requiring clarification may contact BSE officials:

Important Dates

  • Notice Date: December 16, 2025
  • Effective Date: December 17, 2025 (Wednesday)
  • Previous Related Notice: October 15, 2025 (Notice number 20251015-25)
  • Maturity Date: April 14, 2027

Impact Assessment

Market Impact: Medium - The change from fixed to reset rate coupon structure affects yield calculations and pricing for holders and potential investors of ADPL debt securities. The new ISIN requires system updates across trading platforms.

Investor Impact: Existing holders of the debt security will see their coupon payments move from a fixed 11% rate to a reset rate mechanism, which introduces interest rate variability based on the reset terms.

Operational Impact: Trading Members must ensure their systems are updated with the new ISIN and trading parameters by December 17, 2025 to ensure smooth trading operations. The change in identification parameters (ISIN, Scrip ID, Abbreviated Name) requires database and system updates.

Impact Justification

Material change in debt security terms affecting trading parameters, ISIN modification, and shift from fixed to reset rate coupon structure for existing debt instrument