Description
BSE suspends trading in commercial papers of 18 companies including Reliance Industries, Tata Power, BHEL, and others due to redemption on December 23, 2025. No dealings permitted from December 23, 2025.
Summary
BSE has issued a suspension notice for trading in commercial papers of 18 companies that have fixed December 23, 2025 as the record date for redemption. Trading members are advised not to deal in these commercial papers from December 23, 2025 onwards. The affected issuers include major corporates such as Reliance Industries Ltd, Tata Power Co. Ltd, Bharat Heavy Electricals Ltd, Avenue Supermarts Limited, and various financial services companies.
Key Points
- 18 commercial papers will be suspended from trading effective December 23, 2025
- Record date for redemption: December 23, 2025
- Reference number: DR-783/2025-2026
- All affected securities share the same record date and no dealings date
- Mix of corporate and financial services issuers affected
- Trading members explicitly instructed not to deal in these instruments from the suspension date
Affected Commercial Papers
| Company | ISIN | Code | Purpose |
|---|---|---|---|
| Muthoot Fincorp Limited | INE549K14BV4 | 728589 | Redemption |
| Time Technoplast Limited | INE508G14HS1 | 729727 | Redemption |
| Aarti Industries Ltd | INE769A14973 | 730310 | Redemption |
| Infina Finance Private Limited | INE879F14LO9 | 730312 | Redemption |
| HT Media Ltd | INE501G14EL8 | 730319 | Redemption |
| Birla Group Holdings Private Limited | INE09OL14HZ3 | 730324 | Redemption |
| Himadri Speciality Chemical Ltd | INE019C14649 | 730329 | Redemption |
| Jindal Saw Ltd | INE324A14977 | 730334 | Redemption |
| IGH Holdings Private Limited | INE02FN14663 | 730339 | Redemption |
| Bharat Heavy Electricals Ltd | INE257A14AD5 | 730340 | Redemption |
| Bajaj Financial Securities Limited | INE01C314CY1 | 730348 | Redemption |
| Avenue Supermarts Limited | INE192R14295 | 730350 | Redemption |
| Tata Power Co. Ltd | INE245A14KI8 | 730374 | Redemption |
| ICICI Securities Primary Dealership Limited | INE849D14HX6 | 730375 | Redemption |
| SEIL Energy India Limited | INE460M14792 | 730393 | Redemption |
| BOBCARD LIMITED | INE027214886 | 730414 | Redemption |
| Reliance Industries Ltd | INE002A14LN1 | 730566 | Redemption |
| Kotak Mahindra Prime Limited | INE916D146G0 | 730712 | Redemption |
Compliance Requirements
- Trading members must cease all trading activities in the listed commercial papers from December 23, 2025
- No buy or sell transactions permitted in these instruments after the suspension date
- Members must ensure their systems and processes reflect the trading suspension
- Compliance with BSE notice DR-783/2025-2026
Important Dates
- Notice Date: December 17, 2025
- Record Date: December 23, 2025
- Trading Suspension Date: December 23, 2025 (No dealings from this date)
- Purpose: Redemption of Commercial Paper
Impact Assessment
Market Impact: Medium - affects debt market participants holding commercial papers of 18 issuers. The suspension is part of the normal redemption process and is anticipated by market participants.
Investor Impact: Holders of these commercial papers will receive redemption proceeds as per the terms of issuance. The instruments will mature and cease to exist post-redemption.
Operational Impact: Trading desks and risk management systems need to update their databases to reflect the suspension and prevent inadvertent trades in these securities. Settlement teams should prepare for the redemption process on the record date.
Impact Justification
Routine redemption affecting 18 commercial papers with specific suspension date. Impacts debt market participants holding these instruments but is a scheduled corporate action.