Description

Trading suspended in perpetual AT1 non-convertible debentures of Bank of Baroda from January 12, 2026 due to redemption on exercise of call option and interest payment.

Summary

BSE has suspended trading in specific non-convertible debentures (NCDs) of Bank of Baroda effective January 12, 2026. The suspension applies to perpetual AT1 private placement debentures (ISIN: INE028A08257, Code: 960435) due to the bank exercising its call option for redemption and processing interest payment. Trading members are instructed to cease all dealings in these debentures from the no-dealings date.

Key Points

  • Trading suspension for Bank of Baroda’s 8.15% perpetual AT1 debentures
  • ISIN: INE028A08257, BSE Code: 960435
  • Record date set for January 12, 2026
  • Dual purpose: Redemption on exercise of call option and interest payment
  • No dealings permitted from January 12, 2026
  • Circular reference: DR-796/2025-2026
  • Notice issued by BSE Listing Compliance and Operations department

Regulatory Changes

No new regulatory changes introduced. This is a standard operational notice for debenture redemption and trading suspension in accordance with existing debt market regulations.

Compliance Requirements

  • Trading members must cease all dealing activities in the specified debentures from January 12, 2026
  • Members should update their systems to reflect the trading suspension
  • No buy or sell orders should be accepted for ISIN INE028A08257 from the no-dealings date
  • Trading members must inform their clients holding or interested in these debentures about the suspension

Important Dates

  • Notice Date: January 1, 2026
  • Record Date: January 12, 2026
  • No Dealings From: January 12, 2026

Impact Assessment

Market Impact: Limited to holders and traders of this specific debenture series. Bank of Baroda’s exercise of the call option on perpetual AT1 bonds indicates proactive liability management. The suspension is temporary and procedural, affecting only this particular ISIN.

Investor Impact: Debenture holders on record as of January 12, 2026 will receive interest payment and redemption proceeds. Liquidity for this instrument ceases from the no-dealings date, preventing any trading activity.

Operational Impact: Trading members must update systems and communication protocols to prevent inadvertent trading in these debentures. The suspension is limited in scope to a single instrument series.

Impact Justification

Trading suspension affects specific debenture holders and trading members dealing in Bank of Baroda's perpetual AT1 bonds, but limited to single ISIN with defined timeline