Description

BSE suspends trading in commercial paper of six companies including Dolat Algotech, Muthoot Fincorp, Navi Finserv, Kalpataru Projects, J.K. Cement, and Nuvama Wealth Finance due to redemption with record dates on December 29-30, 2025.

Summary

BSE has issued a notice suspending trading in commercial paper issued by six companies effective from December 29-30, 2025. The suspension is due to companies fixing record dates for redemption of their commercial paper. Trading members are advised not to deal in these instruments from the specified dates.

Key Points

  • Six companies have fixed record dates for commercial paper redemption
  • Trading suspension applies to specific ISIN codes in the debt segment
  • Five instruments have no dealings from December 29, 2025
  • Two instruments have no dealings from December 30, 2025
  • Notice issued under reference numbers DR-786/2025-2026 and DR-787/2025-2026
  • All affected instruments are commercial paper in the debt market segment

Affected Securities

Suspensions effective December 29, 2025:

  • Dolat Algotech Limited - DAL-30-12-25-CP (ISIN: INE966A14025, Code: 728539)
  • Muthoot Fincorp Limited - MFL-14-1-26-CP (ISIN: INE549K14BU6, Code: 728611)
  • Navi Finserv Limited - NFL-30-12-25-CP (ISIN: INE342T14DI8, Code: 729755)
  • Kalpataru Projects International Limited - KPIL-30-12-25-CP (ISIN: INE220B14BM0, Code: 730403)
  • J.K. Cement Ltd - JKCL-30-12-25-CP (ISIN: INE823G14AZ4, Code: 730469)

Suspensions effective December 30, 2025:

  • Navi Finserv Limited - NFl-31-12-25-CP (ISIN: INE342T14DJ6, Code: 729775)
  • Nuvama Wealth Finance Limited - NWFL-31-12-25-CP (ISIN: INE918K14CS5, Code: 730358)

Compliance Requirements

  • Trading members must not deal in the listed commercial paper from their respective suspension dates
  • Members must ensure compliance with the no-dealings directive for affected instruments
  • Trading members should inform clients holding these instruments about the redemption and trading suspension

Important Dates

  • Notice Date: December 24, 2025
  • Record Date (First Batch): December 29, 2025
  • No Dealings From (First Batch): December 29, 2025
  • Record Date (Second Batch): December 30, 2025
  • No Dealings From (Second Batch): December 30, 2025

Impact Assessment

This is a routine corporate action affecting the debt market segment. The impact is limited to trading members and investors holding these specific commercial paper instruments. The suspensions are temporary and coincide with scheduled redemptions. No broader market impact is expected as this is part of the normal lifecycle of commercial paper instruments. Investors holding these instruments will receive redemption proceeds as per the terms of the commercial paper.

Impact Justification

Routine suspension for commercial paper redemption affecting multiple issuers. Standard corporate action with limited market-wide impact, affecting only debt segment trading members dealing in these specific instruments.