Description

BSE notification regarding shut period for Securities Lending and Borrowing (SLB) in 7 securities declaring dividends between January 23-27, 2026.

Summary

BSE has issued a circular regarding corporate actions affecting Securities Lending and Borrowing (SLB) operations. Seven securities will have restricted SLB activity during their respective shut periods due to dividend record dates. The shut periods range from January 22-27, 2026, with ex-dates falling on January 23 or 27, 2026.

Key Points

  • Seven securities announcing dividend corporate actions
  • SLB shut periods implemented for dividend record date compliance
  • All corporate actions are dividend distributions
  • Shut periods range from 1-5 days depending on the security
  • Ex-dates: January 23, 2026 (4 securities) and January 27, 2026 (3 securities)
  • Record dates: January 23, 2026 (4 securities) and January 27, 2026 (3 securities)

Affected Securities and Dates

Ex-Date: January 23, 2026

  • DCM Shriram Limited: Record Date - Jan 24, 2026; Shut Period - Jan 22-24, 2026
  • Havells India Limited: Record Date - Jan 23, 2026; Shut Period - Jan 22-23, 2026
  • TIPS MUSIC LIMITED: Record Date - Jan 23, 2026; Shut Period - Jan 22-23, 2026
  • OBEROI REALTY LIMITED: Record Date - Jan 23, 2026; Shut Period - Jan 22-23, 2026

Ex-Date: January 27, 2026

  • SRF Ltd.: Record Date - Jan 27, 2026; Shut Period - Jan 23-27, 2026
  • United Spirits Limited: Record Date - Jan 27, 2026; Shut Period - Jan 23-27, 2026
  • Persistent Systems Limited: Record Date - Jan 27, 2026; Shut Period - Jan 23-27, 2026

Compliance Requirements

  • Market participants must cease SLB activities for the specified securities during their respective shut periods
  • No new securities lending or borrowing transactions allowed during foreclosure periods
  • Existing SLB positions must be managed in accordance with shut period restrictions
  • Participants must ensure compliance with record date requirements for dividend entitlement

Important Dates

  • January 22, 2026: Shut period begins for Havells India, DCM Shriram, TIPS MUSIC, and OBEROI REALTY
  • January 23, 2026: Ex-date and shut period begins for SRF, United Spirits, and Persistent Systems
  • January 23-24, 2026: Record dates for first group of securities
  • January 27, 2026: Record date and ex-date for SRF, United Spirits, and Persistent Systems

Impact Assessment

Market Operations: Moderate impact on SLB market liquidity for the affected securities during shut periods. Participants engaged in securities lending and borrowing must plan positions accordingly.

Trading Impact: Securities remain tradable on the exchange, but SLB mechanisms will be unavailable during specified periods. This may affect short-selling strategies and hedging activities.

Investor Impact: Shareholders holding securities on respective record dates will be entitled to dividend payments. SLB participants must ensure proper position management to avoid dividend entitlement issues.

Impact Justification

Affects SLB operations for 7 securities during dividend record dates. Important for market participants engaged in securities lending and borrowing activities.