Description

BSE announces partial redemption of Pass Through Certificates (PTCs) issued by LeaseX Valerian Jan 25, reducing face value to Rs. 63,899 per PTC effective December 17, 2025.

Summary

BSE has issued a notice regarding the partial redemption of Pass Through Certificates (PTCs) issued by LeaseX Valerian Jan 25, represented by trustee Axis Trustee Services Limited. The partial redemption results in a reduced face value that will be effective for trading from December 17, 2025.

Key Points

  • LeaseX Valerian Jan 25 PTCs (ISIN: INE1JMM15019, Scrip Code: 976362) are undergoing partial redemption
  • The reduced face value after partial redemption is Rs. 63,899 per PTC
  • The PTCs carry a coupon rate of 14.68% with maturity date of December 22, 2026
  • Trustee for the PTCs is Axis Trustee Services Limited
  • Trading members are required to take note of the face value change

Regulatory Changes

No new regulatory changes introduced. This is a standard corporate action notice for partial redemption of debt securities.

Compliance Requirements

  • Trading members must update their systems to reflect the new reduced face value of Rs. 63,899 per PTC
  • All trading in these PTCs must be conducted using the updated face value
  • Trading members are required to acknowledge and implement this change

Important Dates

  • Notice Date: December 16, 2025
  • Effective Date for Trading with Reduced Face Value: December 17, 2025
  • PTC Maturity Date: December 22, 2026
  • Reference: DR-779/2025-2026

Impact Assessment

Market Impact: Medium - Affects only holders and potential investors of this specific PTC series. The partial redemption reduces the outstanding principal amount, which will be reflected in the trading face value.

Investor Impact: Holders of these PTCs will receive partial redemption proceeds, and the remaining investment will be valued at the reduced face value. Future cash flows and interest calculations will be based on the new reduced face value.

Trading Impact: Trading members must ensure their systems are updated to reflect the new face value to prevent trade execution errors or settlement issues.

Impact Justification

Affects holders of specific PTCs with reduced face value impacting trading parameters; limited to debt segment investors