Description

BSE notifies part redemption of three series of POWER GRID bonds with reduced face values effective February 2, 2026, along with interest payment.

Summary

BSE has informed trading members that POWER GRID CORPORATION OF INDIA LIMITED will conduct part redemption of three series of privately placed bonds along with interest payment. The record date is February 2, 2026, and trading in these bonds will commence with reduced face values effective from the same date.

Key Points

  • Three series of POWER GRID bonds undergoing part redemption
  • PGCL-7.40%-17-2-33-PVT (ISIN: INE752E08676, Code: 974593) - Face value reduced to Rs. 70,000 per bond
  • PGCIL-7.52%-23-3-33-PVT (ISIN: INE752E08684, Code: 974698) - Face value reduced to Rs. 72,500 per bond
  • PGCIL-7.56%-31-3-33-PVT (ISIN: INE752E08692, Code: 974737) - Face value reduced to Rs. 72,500 per bond
  • Part redemption accompanied by interest payment to bondholders
  • Trading members must note the reduced face values for trading purposes

Regulatory Changes

No regulatory changes. This is a standard corporate action notification for bond redemption.

Compliance Requirements

  • Trading members must ensure that trading in the affected bonds reflects the reduced face values from February 2, 2026
  • Settlement number DR-811/2025-2026 applies to all three bond series
  • Members should update their systems to reflect new face values for accurate pricing and settlement

Important Dates

  • Record Date: February 2, 2026 - Eligibility date for interest payment and part redemption
  • Effective Date: February 2, 2026 - Trading commences with reduced face values
  • Settlement: DR-811/2025-2026

Impact Assessment

The part redemption affects bondholders of POWER GRID’s three privately placed bond series. Bondholders as of the record date will receive partial principal repayment along with interest. Post-redemption, the bonds will trade at reduced face values, which will affect pricing calculations and yield computations. This is a routine corporate action for debt securities and represents return of capital to investors as per bond terms. Trading members need to ensure system updates to prevent settlement issues.

Impact Justification

Part redemption affects three bond series of a major infrastructure company, impacting bondholders with reduced face values but is routine corporate action