Description

BSE notification of reduced face values for six series of Pass Through Certificates (PTCs) of India Universal Trust AL1 and AL2 following partial redemption, effective January 09, 2025.

Summary

BSE has announced the partial redemption of Pass Through Certificates (PTCs) for India Universal Trust AL1 and AL2 across six series (A1, A2, and A3 for each trust). Catalyst Trusteeship Limited has informed the exchange of reduced face values per PTC following the partial redemption. Trading members are advised that these PTCs will trade with the new reduced face values effective January 09, 2025.

Key Points

  • Six series of PTCs from India Universal Trust AL1 and AL2 have undergone partial redemption
  • Reduced face values range from Rs. 2,522,289.52 to Rs. 9,469,230.22 per PTC depending on the series
  • Catalyst Trusteeship Limited is the trustee managing these PTCs
  • Trading members must update their systems with the new face values
  • Notice reference: DR-795/2025-2026

Redemption Details

India Universal Trust AL1:

  • Series A1 (ISIN: INE16J715019, Scrip: 976050): Reduced to Rs. 2,522,289.52 per PTC
  • Series A2 (ISIN: INE16J715027, Scrip: 976051): Reduced to Rs. 8,182,500.93 per PTC
  • Series A3 (ISIN: INE16J715035, Scrip: 976052): Reduced to Rs. 9,131,387.09 per PTC

India Universal Trust AL2:

  • Series A1 (ISIN: INE1CBK15011, Scrip: 976206): Reduced to Rs. 3,550,489.68 per PTC
  • Series A2 (ISIN: INE1CBK15029, Scrip: 976207): Reduced to Rs. 7,408,678.89 per PTC
  • Series A3 (ISIN: INE1CBK15037, Scrip: 976208): Reduced to Rs. 9,469,230.22 per PTC

Compliance Requirements

  • Trading members must take note of the reduced face values for all six PTC series
  • Systems and trading platforms should be updated to reflect the new face values
  • Members must ensure accurate pricing and settlement calculations based on the revised face values

Important Dates

  • Circular Date: January 08, 2026
  • Effective Date: January 09, 2025 (PTCs will trade with reduced face values from this date)

Impact Assessment

This partial redemption affects holders of these specific PTC series issued by India Universal Trust. The reduction in face values reflects the return of principal to investors as part of the structured amortization schedule of these pass-through certificates. Trading members dealing in these debt securities need to adjust their valuation and trading systems accordingly. The impact is limited to participants in these specific debt instruments and does not affect the broader equity market.

Impact Justification

Routine partial redemption of debt securities affecting specific PTC holders with updated face values for trading purposes