Description
Partial redemption of Pass Through Certificates (PTCs) of LeaseX Valerian Jan 25, reducing face value to Rs. 63,899 per PTC effective December 17, 2025.
Summary
BSE has notified trading members about the partial redemption of Pass Through Certificates (PTCs) issued by LeaseX Valerian Jan 25 (represented by Trustee - Axis Trustee Services Limited). The face value of the PTCs has been reduced to Rs. 63,899 per PTC following the partial redemption. The reduced face value will be effective for trading from December 17, 2025.
Key Points
- Security: LeaseX Valerian Jan 25 PTCs (ISIN: INE1JMM15019, Scrip Code: 976362)
- Interest Rate: 14.68%
- Maturity Date: December 22, 2026
- Action: Part Redemption of PTCs
- New Reduced Face Value: Rs. 63,899 per PTC
- Trustee: Axis Trustee Services Limited
- Reference: DR-779/2025-2026
Regulatory Changes
No regulatory changes. This is a corporate action notification regarding partial redemption of debt securities.
Compliance Requirements
- Trading members must note the reduced face value of Rs. 63,899 per PTC
- PTCs will trade at the reduced face value from December 17, 2025 onwards
- Trading members should update their systems to reflect the new face value
Important Dates
- Notice Date: December 16, 2025
- Effective Date for Trading: December 17, 2025
- PTC Maturity Date: December 22, 2026
Impact Assessment
Market Impact: Limited to holders of LeaseX Valerian Jan 25 PTCs. The partial redemption reduces the outstanding principal amount per certificate.
Investor Impact: PTC holders receive partial redemption proceeds while continuing to hold certificates with reduced face value. Future coupon payments and final redemption will be calculated based on the new reduced face value of Rs. 63,899 per PTC.
Operational Impact: Trading members need to update their systems to reflect the reduced face value for accurate pricing and settlement of trades executed from December 17, 2025 onwards.
Impact Justification
Routine corporate action affecting specific debt instrument holders. Material impact on PTC face value but limited to specific security.