Description

BSE revises ex-dates for corporate actions of debt securities from January 15 to January 14, 2026 due to trading holiday on account of Municipal Corporation elections in Maharashtra.

Summary

BSE has revised the ex-dates for corporate actions of 15 debt securities from January 15, 2026 to January 14, 2026 due to a trading/settlement holiday on January 15, 2026 on account of Municipal Corporation elections in Maharashtra. The revised ex-date applies to securities with record date of January 15, 2026 for purposes including redemption of commercial paper (CP) and non-convertible debentures (NCD), and payment of interest. All affected securities will now have ex-date of January 14, 2026 with revised ex-settlement number DR-798/2025-2026.

Key Points

  • Ex-dates revised from January 15, 2026 to January 14, 2026 for 15 debt securities
  • Reason: Trading/Settlement holiday on January 15, 2026 due to Maharashtra Municipal Corporation elections
  • Affects corporate actions with record date of January 15, 2026
  • Revised ex-settlement number: DR-798/2025-2026
  • Includes commercial paper (CP) redemptions and NCD redemptions/interest payments
  • Notice issued by Marian Dsouza, Assistant Vice President – Listing Compliance and Operations

Regulatory Changes

No new regulatory changes. This is an operational adjustment to accommodate a scheduled trading holiday.

Compliance Requirements

  • Trading members must note the revised ex-dates for affected debt securities
  • Members should refer to previous notices: Notice No. 20260109-67 dated January 09, 2026 and Notice No. 20260112-8 dated January 12, 2026 regarding the settlement/trading holiday
  • Ensure settlement processes align with revised ex-settlement number DR-798/2025-2026

Important Dates

  • Notice Date: January 12, 2026
  • Original Ex-date: January 15, 2026 (now revised)
  • Revised Ex-date: January 14, 2026
  • Record Date: January 15, 2026 (for all affected securities)
  • Trading Holiday: January 15, 2026

Impact Assessment

Market Impact: Medium - Affects 15 debt securities across multiple issuers including major financial institutions and corporates. The one-day advancement of ex-dates requires investors and trading members to adjust their settlement expectations.

Operational Impact: Debt market participants need to update their systems and processes to reflect the revised ex-dates. Settlement schedules must be adjusted to accommodate the new ex-date of January 14, 2026.

Affected Securities:

  • 6 Commercial Paper (CP) redemptions: Julius Baer Capital, ICICI Securities, Tata Power, Infina Finance, Bajaj Finance, Bajaj Financial Securities
  • 9 NCD redemptions and/or interest payments: Kosamattam Finance (2 ISINs), Mahindra Rural Housing Finance, Aditya Birla Lifestyle Brands, Aditya Birla Real Estate, Lendingkart Finance (2 ISINs), Krazybee Services, Keertana Finserv

Investor Impact: Investors planning to be eligible for these corporate actions must ensure their holdings are settled by January 14, 2026 instead of January 15, 2026.

Impact Justification

Affects multiple debt securities' ex-dates due to trading holiday. Important for debt market participants to note revised settlement schedules for redemptions and interest payments.