Description
TULIP GROWTH 12 2023 has fixed a record date for payment of interest and part redemption of Pass Through Certificates (PTCs) with reduced face value effective from January 23, 2026.
Summary
BSE has notified that TULIP GROWTH 12 2023 has set a record date for part redemption of Pass Through Certificates (PTCs) and payment of interest. The PTCs will trade with a reduced face value of Rs. 9036.64 per PTC effective from January 23, 2026.
Key Points
- Security: TULIP GROWTH 12 2023 (ISIN: INE0SDO15017, Code: 975299)
- Record Date: January 24, 2026
- Purpose: Part redemption of PTCs and payment of interest
- Reduced Face Value: Rs. 9036.64 per PTC (down from previous face value)
- Effective Date of Reduced Face Value: January 23, 2026
- Settlement Number: DR-805/2025-2026
- Segment: Debt
Regulatory Changes
No regulatory changes. This is a standard corporate action notification.
Compliance Requirements
- Trading members must ensure that trading in TULIP GROWTH 12 2023 PTCs reflects the reduced face value from January 23, 2026 onwards
- Members should update their systems to reflect the new face value for settlement purposes
Important Dates
- January 23, 2026: Effective date for trading with reduced face value (Settlement DR-805/2025-2026)
- January 24, 2026: Record date for part redemption and interest payment eligibility
Impact Assessment
This circular has limited impact as it pertains to a specific debt security. Only holders of TULIP GROWTH 12 2023 PTCs are affected. The part redemption will reduce the outstanding principal amount, and the face value adjustment ensures proper pricing in secondary market trading. Trading members dealing in this security need to update their systems accordingly.
Impact Justification
Routine corporate action for a specific debt instrument affecting only holders of TULIP GROWTH 12 2023 PTCs. Limited market-wide impact as it is security-specific.