Description

BSE announces part redemption of three series of non-convertible debentures issued by Lodha Developers Limited with reduced face values effective January 14, 2026.

Summary

BSE has notified trading members about the part redemption of three series of non-convertible debentures issued by Lodha Developers Limited. The record date for determining eligible debenture holders is January 14, 2026. Trading in these debentures will commence with reduced face values from the same date (Settlement DR-798/2025-2026).

Key Points

  • Three series of Lodha Developers debentures undergoing part redemption
  • INE670K07281 (Code 976764): 8.14% debentures maturing June 5, 2028 - reduced face value Rs. 97,500 per debenture (includes interest payment)
  • INE670K07307 (Code 976923): Reset rate debentures maturing January 21, 2028 - reduced face value Rs. 88,083 per debenture
  • INE670K07349 (Code 977293): T-Bills linked debentures maturing November 13, 2028 - reduced face value Rs. 98,054 per debenture
  • All debentures are privately placed securities
  • Trading with reduced face values effective from January 14, 2026

Regulatory Changes

No new regulatory changes. This is a standard corporate action notification as per existing BSE debt market regulations.

Compliance Requirements

  • Trading members must note the reduced face values for trading purposes
  • Trading members should update their systems to reflect new face values from the effective date
  • Transactions from January 14, 2026 onwards must be executed at the reduced face values
  • Settlement DR-798/2025-2026 will process trades with new face values

Important Dates

  • Record Date: January 14, 2026 - Determination of eligible debenture holders for part redemption and interest payment (for INE670K07281)
  • Effective Date: January 14, 2026 - Trading commences with reduced face values
  • Settlement: DR-798/2025-2026

Impact Assessment

Impact on Debenture Holders: Moderate impact on holders of these three debenture series who will receive partial redemption proceeds. The face value reductions indicate substantial partial redemptions ranging from approximately 2.5% to 12% depending on the series.

Market Impact: Limited to specific debenture holders of Lodha Developers. This is a routine corporate action for debt securities and does not affect equity markets or broader market operations.

Liquidity: Post-redemption, the outstanding debenture amounts will be lower, which may affect secondary market liquidity for these securities.

Impact Justification

Part redemption of debentures affects debt security holders of Lodha Developers. Impact limited to specific debenture holders but involves significant face value reductions.