Description

Notification of partial redemption and reduced face values for Pass Through Certificates (PTCs) of three securitisation trusts effective January 13, 2025.

Summary

Catalyst Trusteeship Ltd. has informed BSE about the partial redemption of Pass Through Certificates (PTCs) for three securitisation trusts, resulting in reduced face values. The new reduced face values will be effective for trading from January 13, 2025.

Key Points

  • Three securitisation trusts are undergoing partial redemption of their PTCs
  • SIDDHIVINAYAK SECURITISATION TRUST: SST-7.80%-28-9-30-PTC (ISIN: INE2I7F15012, Scrip: 977125) - Reduced face value to Rs. 9,928,255.68 per PTC
  • SHIVSHAKTI SECURITISATION TRUST: SST-7.73%-28-9-29-PTC (ISIN: INE2I7G15010, Scrip: 977121) - Reduced face value to Rs. 9,920,543.10 per PTC
  • RADHAKRISHNA SECURITISATION TRUST: RKST-7.66%-28-9-28-PTC (ISIN: INE2I7H15018, Scrip: 977124) - Reduced face value to Rs. 9,911,614.71 per PTC
  • Circular reference: DR-797/2025-2026

Regulatory Changes

No regulatory framework changes. This is a standard corporate action notification for debt securities.

Compliance Requirements

  • Trading members must note the reduced face values for the three PTCs
  • All trading in these PTCs must reflect the new reduced face values from the effective date
  • Trading members should update their systems to reflect the new face values

Important Dates

  • Circular Date: January 12, 2026
  • Effective Date: January 13, 2025 (Note: appears to be a typographical error in original circular, likely should be 2026)
  • PTCs will trade with reduced face values from the effective date

Impact Assessment

This partial redemption impacts holders of PTCs in the three securitisation trusts. The face value reduction reflects the return of principal to investors as part of the scheduled amortization of the underlying securitised assets. Trading members dealing in debt securities need to update their systems to reflect the new face values to ensure accurate pricing and settlement. The impact is limited to the debt market segment and specific to holders of these PTCs.

Impact Justification

Affects debt securities of three securitisation trusts with specific face value changes. Important for PTC holders but limited to debt market segment.