Description

Trading of Rights Entitlements (REs) for PULSAR INTERNATIONAL LIMITED commences December 31, 2025, with rights issue open from December 31, 2025 to January 19, 2026.

Summary

BSE has announced the commencement of trading in Rights Entitlements (REs) for renunciation of PULSAR INTERNATIONAL LIMITED effective December 31, 2025. The rights entitlements will be tradable in dematerialized form only on a T+1 rolling settlement basis with trade-for-trade settlement. The underlying rights issue will remain open from December 31, 2025 to January 19, 2026.

Key Points

  • Rights Entitlements (REs) trading permitted from December 31, 2025 to January 13, 2026
  • Scrip Code: 751071, Scrip ID: PULSRIN-RE, ISIN: INE183U20014
  • Market lot size: 1 share, Group: R
  • Settlement basis: T+1 Rolling Settlement, trade-for-trade
  • Trading allowed in dematerialized form only
  • Rights issue open period: December 31, 2025 to January 19, 2026
  • Unsubscribed or unrenounced REs will lapse and be extinguished after issue closing date

Regulatory Changes

No new regulatory changes. This notice implements existing rights entitlements trading framework as per previous notices dated March 05, 2020 (20200305-21) and May 18, 2020 (20200518-34).

Compliance Requirements

  • Trading members must inform all clients about commencement of REs trading with proper ISIN identification
  • Trading members must include prominent disclaimer in contract notes/bills for RE purchases stating:
    • Purchase of REs only grants right to participate in ongoing rights issue or renounce before issue closes
    • REs are not ordinary shares of the company
    • REs neither subscribed nor renounced by issue closing date will lapse and be extinguished
  • Trading members must ensure trades are settled on trade-for-trade basis in demat form only

Important Dates

  • December 31, 2025: Rights Entitlements trading commences; Rights Issue opens
  • January 13, 2026: Last date for Rights Entitlements renunciation trading
  • January 19, 2026: Rights Issue closes; unexercised REs lapse after this date

Impact Assessment

Market Impact: Limited to existing shareholders of PULSAR INTERNATIONAL LIMITED who can trade their rights entitlements during the 14-day renunciation window. The T+1 settlement and trade-for-trade mechanism ensures controlled trading environment.

Operational Impact: Trading members handling PULSAR INTERNATIONAL shares must update systems for REs trading under scrip code 751071 (ISIN: INE183U20014) and ensure proper client communication with mandatory disclaimers in contract notes. The relatively short trading window (December 31, 2025 to January 13, 2026) requires prompt client notification and processing.

Impact Justification

Standard rights entitlements trading notice for existing shareholders and trading members; operational impact limited to PULSAR INTERNATIONAL LIMITED shareholders and brokers handling renunciation trades.