Description
BSE has suspended trading in two IRFC NCD bonds ahead of their redemption on March 22, 2026. Trading members are advised not to deal in these bonds effective March 5, 2026.
Summary
BSE has notified trading members of the suspension of trading in two Non-Convertible Debentures (NCDs) issued by Indian Railway Finance Corporation (IRFC). The company has fixed March 5, 2026 as the Record Date for redemption of both bonds, and trading members are instructed not to deal in these instruments from that date onwards.
Key Points
- Two IRFC NCD bonds are being suspended from trading ahead of their redemption date of March 22, 2026
- Record date for both bonds is fixed at March 5, 2026
- No dealings are permitted in these bonds from March 5, 2026
- The suspension applies to all trading members of BSE
- Notice reference: DR-833/2025-2026
Regulatory Changes
No new regulatory changes. This is a standard operational notice under existing BSE framework for bond redemptions in the Debt Market Segment.
Compliance Requirements
- Trading members must cease all dealings in the two specified IRFC bonds from March 5, 2026
- Members holding or dealing in these ISINs must take note immediately
- Applicable to all trading members active in the BSE Debt Market Segment
Important Dates
| Event | Date |
|---|---|
| Circular Date | February 23, 2026 |
| Record Date / No Dealings From | March 5, 2026 |
| Bond Maturity / Redemption Date | March 22, 2026 |
Affected Instruments
| Bond Description | ISIN | BSE Code | Record Date | Purpose |
|---|---|---|---|---|
| IRFC-7.04%-22-3-26-NCDS | INE053F07876 | 935676 | 05/03/2026 | Redemption |
| IRFC-7.29%-22-3-26-NCDS | INE053F07892 | 935680 | 05/03/2026 | Redemption |
Impact Assessment
This notice has a medium operational impact on participants in the BSE Debt Market Segment. Investors and traders holding either of the two IRFC NCD instruments must be aware that secondary market trading will be prohibited from March 5, 2026. Bond holders should expect redemption proceeds upon maturity on March 22, 2026. There is no broader market or equity segment impact. Portfolio managers and debt fund managers with exposure to these specific ISINs should plan liquidity accordingly before the trading suspension date.
Impact Justification
Routine bond redemption suspension affecting two specific IRFC NCD instruments in the debt segment. Impact is limited to holders and traders of these specific bonds.