Description
Part redemption of Pass Through Certificates (PTCs) across 10 Vajra Trust series with reduced face values effective January 22, 2025.
Summary
Axis Trustee Services Limited has informed BSE about the partial redemption of Pass Through Certificates (PTCs) across 10 different Vajra Trust series. The reduced face values will be effective for trading from January 22, 2025. This is a routine corporate action in the debt segment affecting PTCs with various maturity dates ranging from 2026 to 2034.
Key Points
- 10 Vajra Trust PTC series undergoing partial redemption
- Face values reduced ranging from Rs. 99,076.63 to Rs. 1,10,33,952.57 per PTC
- Trading with new reduced face values begins January 22, 2025
- All affected PTCs have coupon rates between 9.25% and 9.75%
- Notice issued by Axis Trustee Services Limited
- DR-804/2025-2026 reference number assigned
Regulatory Changes
No regulatory changes. This is a corporate action notification for partial redemption of debt securities.
Compliance Requirements
- Trading members must note the reduced face values effective January 22, 2025
- PTCs must be traded at the new reduced face values from the effective date
- Trading members required to update their systems with new face value information
Important Dates
- Notice Date: January 21, 2026
- Effective Date for Trading: January 22, 2025
Impact Assessment
Market Impact: Medium - Affects 10 PTC series in the debt segment with varying face value reductions.
Operational Impact: Trading members need to update face values in their systems for the affected PTCs.
Investor Impact: PTC holders will receive partial redemption amounts, reducing the outstanding principal of their investments.
Affected Securities Details
| Trust Name | ISIN | Scrip Code | Coupon | Maturity | Reduced Face Value (Rs.) |
|---|---|---|---|---|---|
| Vajra 010 Trust | INE0YD715011 | 975785 | 9.50% | 20-06-28 | 47,91,842.28 |
| Vajra 009 Trust | INE0YD015016 | 975786 | 9.25% | 20-11-26 | 10,97,020.19 |
| Vajra 007 Trust | INE0UQJ15015 | 975577 | 9.75% | 20-7-30 | 26,49,695.55 |
| Vajra 008 Trust | INE0UQO15015 | 975578 | 9.75% | 20-2-27 | 22,59,988.36 |
| Vajra 012 Trust | INE10VT15014 | 975906 | 9.25% | 20-10-28 | 20,82,647.55 |
| Vajra 012 Trust | INE10VT15022 | 975907 | 9.25% | 20-1-31 | 86,80,441.26 |
| Vajra 011 Trust | INE116015012 | 975901 | 9.25% | 20-9-27 | 38,68,773.24 |
| Vajra 014 Trust | INE1EJ815016 | 976276 | 9.25% | 20-7-26 | 1,35,007.43 |
| Vajra 015 Trust | INE20NI15013 | 976743 | 9.25% | 20-10-26 | 99,076.63 |
| Vajra 016 Trust | INE1ZSF15016 | 976719 | 9.25% | 20-6-34 | 1,10,33,952.57 |
Impact Justification
Routine partial redemption of debt securities affecting multiple Vajra Trust PTCs with updated face values for trading from January 22, 2025