Part Redemption of PTCs of Vajra Trust - Reduced Face Values

Description

BSE notifies 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 part redemption of Pass Through Certificates (PTCs) across 10 different series of Vajra Trust. The redemption results in reduced face values for each PTC series, effective from January 22, 2025. Trading members are required to note the revised face values for trading purposes.

Key Points

• 10 Vajra Trust PTC series undergoing partial redemption
• Face values reduced significantly across all series
• Effective date for trading at reduced face values: January 22, 2025
• Trustee: Axis Trustee Services Limited
• Notice reference: DR-804/2025-2026

Affected Securities

VAJRA 010 Trust (ISIN: INE0YD715011, Scrip: 975785)

• Coupon: 9.50%, Maturity: 20-06-28
• Reduced Face Value: Rs. 47,91,842.28 per PTC

VAJRA 009 Trust (ISIN: INE0YD015016, Scrip: 975786)

• Coupon: 9.25%, Maturity: 20-11-26
• Reduced Face Value: Rs. 10,97,020.19 per PTC

VAJRA 007 Trust (ISIN: INE0UQJ15015, Scrip: 975577)

• Coupon: 9.75%, Maturity: 20-7-30
• Reduced Face Value: Rs. 26,49,695.55 per PTC

Vajra 008 Trust (ISIN: INE0UQO15015, Scrip: 975578)

• Coupon: 9.75%, Maturity: 20-2-27
• Reduced Face Value: Rs. 22,59,988.36 per PTC

Vajra 012 Trust - Series 1 (ISIN: INE10VT15014, Scrip: 975906)

• Coupon: 9.25%, Maturity: 20-10-28
• Reduced Face Value: Rs. 20,82,647.55 per PTC

Vajra 012 Trust - Series 2 (ISIN: INE10VT15022, Scrip: 975907)

• Coupon: 9.25%, Maturity: 20-1-31
• Reduced Face Value: Rs. 86,80,441.26 per PTC

Vajra 011 Trust (ISIN: INE116015012, Scrip: 975901)

• Coupon: 9.25%, Maturity: 20-9-27
• Reduced Face Value: Rs. 38,68,773.24 per PTC

Vajra 014 Trust (ISIN: INE1EJ815016, Scrip: 976276)

• Coupon: 9.25%, Maturity: 20-7-26
• Reduced Face Value: Rs. 1,35,007.43 per PTC

Vajra 015 Trust (ISIN: INE20NI15013, Scrip: 976743)

• Coupon: 9.25%, Maturity: 20-10-26
• Reduced Face Value: Rs. 99,076.63 per PTC

Vajra 016 Trust (ISIN: INE1ZSF15016, Scrip: 976719)

• Coupon: 9.25%, Maturity: 20-6-34
• Reduced Face Value: Rs. 1,10,33,952.57 per PTC

Compliance Requirements

• Trading members must note the reduced face values for all affected PTCs
• All trading in these securities must reflect the new face values from the effective date
• Members should update their systems and records accordingly

Important Dates

• Notice Date: January 21, 2026
• Effective Date for Trading: January 22, 2025
• Notice Reference: DR-804/2025-2026

Impact Assessment

This corporate action affects debt market participants holding or trading Vajra Trust PTCs. The partial redemption returns capital to investors while reducing the outstanding face value of the securities. Trading members must ensure their systems reflect the updated face values to maintain accurate pricing and settlement. The action is routine for pass-through certificate structures where periodic principal repayments reduce face values over the life of the securities.

Impact Justification

Routine corporate action affecting multiple debt securities with reduced face values. Important for debt market participants holding Vajra Trust PTCs.