Description

BSE announces shut periods for Securities Lending and Borrowing (SLB) due to corporate actions including dividends for 9 companies and a spin-off for Genus Power Infrastructures.

Summary

BSE has issued a circular detailing corporate actions affecting Securities Lending and Borrowing (SLB) operations for 10 securities. The circular announces shut periods during which SLB transactions will not be permitted for the affected securities due to dividend declarations and one spin-off event. The shut periods range from February 1-6, 2026, with most actions occurring on February 2-4, 2026.

Key Points

  • 9 companies are declaring dividends with corresponding SLB shut periods
  • 1 company (Genus Power Infrastructures) is undergoing a spin-off with foreclosure date
  • All affected securities will have 2-day shut periods aligned with their ex-dates and record dates
  • Ex-dates range from February 2 to February 6, 2026
  • SLB participants must plan their lending/borrowing activities around these shut periods

Affected Securities and Dates

February 2, 2026 (Ex-Date):

  • LT Foods Limited - Dividend (Shut: Feb 1-2)
  • Balkrishna Industries Ltd - Dividend (Shut: Feb 1-2)

February 3, 2026 (Ex-Date):

  • Symphony Limited - Dividend (Shut: Feb 2-3)
  • Vaibhav Global Ltd - Dividend (Shut: Feb 2-3)
  • Cochin Shipyard Limited - Dividend (Shut: Feb 2-3)
  • Garden Reach Shipbuilders & Engineers Limited - Dividend (Shut: Feb 2-3)

February 4, 2026 (Ex-Date):

  • CRIZAC LIMITED - Dividend (Shut: Feb 3-4)
  • MAS Financial Services Limited - Dividend (Shut: Feb 3-4)

February 6, 2026 (Ex-Date):

  • Quess Corp Limited - Dividend (Shut: Feb 5-6)
  • Genus Power Infrastructures Ltd - Spin Off (Shut: Feb 5-6, Foreclosure: Feb 6)

Regulatory Changes

No new regulatory changes introduced. This circular applies existing SLB framework rules regarding shut periods during corporate actions.

Compliance Requirements

  • SLB participants must not initiate new lending or borrowing transactions for affected securities during shut periods
  • Market participants must ensure no open SLB positions conflict with the announced shut periods
  • Trading members and clearing members should inform their clients about these restrictions
  • Special attention required for Genus Power Infrastructures due to spin-off and foreclosure date

Important Dates

  • February 1-2, 2026: SLB shut period for LT Foods and Balkrishna Industries
  • February 2-3, 2026: SLB shut period for Symphony, Vaibhav Global, Cochin Shipyard, and Garden Reach Shipbuilders
  • February 3-4, 2026: SLB shut period for CRIZAC and MAS Financial Services
  • February 5-6, 2026: SLB shut period for Quess Corp and Genus Power Infrastructures
  • February 6, 2026: Foreclosure date for Genus Power Infrastructures spin-off

Impact Assessment

Market Impact: Medium - affects 10 securities across different sectors including industrial, shipping, financial services, and FMCG. Market participants engaged in SLB activities for these securities must adjust their strategies.

Operational Impact: SLB participants cannot execute lending or borrowing transactions during shut periods, potentially affecting hedging and arbitrage strategies. The spin-off action for Genus Power Infrastructures requires additional attention due to the foreclosure mechanism.

Investor Impact: Shareholders as of record dates will be eligible for dividends or spin-off benefits. SLB market liquidity for these securities will be temporarily reduced during shut periods.

Impact Justification

Affects SLB operations for 10 securities with specific shut periods. Important for market participants engaged in securities lending and borrowing activities during the specified dates in early February 2026.