Description

BSE notifies the reduced face value per PTC following partial redemption of Pass Through Certificates issued by three securitisation trusts, effective January 13, 2025.

Summary

BSE has announced the partial redemption of Pass Through Certificates (PTCs) for three securitisation trusts: SIDDHIVINAYAK SECURITISATION TRUST, SHIVSHAKTI SECURITISATION TRUST, and RADHAKRISHNA SECURITISATION TRUST. Catalyst Trusteeship Ltd. has informed BSE of the reduced face value per PTC following the partial redemption. Trading members are advised that these PTCs will trade at the revised face values effective January 13, 2025.

Key Points

  • Part redemption of PTCs for three securitisation trusts notified by Catalyst Trusteeship Ltd.
  • SIDDHIVINAYAK SECURITISATION TRUST SST-7.80%-28-9-30-PTC (ISIN: INE2I7F15012, Scrip Code: 977125): Reduced face value of Rs. 9,928,255.68 per PTC
  • SHIVSHAKTI SECURITISATION TRUST SST-7.73%-28-9-29-PTC (ISIN: INE2I7G15010, Scrip Code: 977121): Reduced face value of Rs. 9,920,543.10 per PTC
  • RADHAKRISHNA SECURITISATION TRUST RKST-7.66%-28-9-28-PTC (ISIN: INE2I7H15018, Scrip Code: 977124): Reduced face value of Rs. 9,911,614.71 per PTC
  • Trading members must update their systems to reflect the new face values
  • Notice reference: DR-797/2025-2026

Regulatory Changes

No regulatory changes. This is a notification of corporate action (partial redemption) affecting specific debt securities.

Compliance Requirements

  • Trading members must take note of the reduced face values for the three PTCs
  • Trading members should update their systems and records to reflect the new face values per PTC
  • All trades from the effective date must be executed at the revised face values

Important Dates

  • Notice Date: January 12, 2026
  • Effective Date: January 13, 2025 (PTCs to trade at reduced face value from this date)

Impact Assessment

Market Impact: Medium - affects only holders and traders of these three specific PTCs issued by securitisation trusts.

Operational Impact: Trading members dealing in these debt instruments must update their trading systems to reflect the new face values. The partial redemption reduces the outstanding face value of each PTC, which will affect pricing calculations and settlement amounts.

Investor Impact: PTC holders have received partial redemption proceeds, reducing their exposure to these instruments. The remaining PTCs will trade at significantly reduced face values, which must be considered in valuation and portfolio management.

Impact Justification

Routine partial redemption affecting specific debt instruments with updated face values; impacts holders of these PTCs but limited to three securitisation trust instruments.