Description

BSE advises trading members to cease dealings in two PTCs of Vajra Trust following redemption notice by Axis Trustee Services Limited, effective February 25, 2026.

Summary

BSE has issued a suspension of trading notice for two Pass-Through Certificates (PTCs) of Vajra Trust following a redemption notification by Axis Trustee Services Limited. Trading members are directed not to deal in these PTCs with effect from February 25, 2026.

Key Points

  • Axis Trustee Services Limited informed BSE of the redemption of two PTCs issued under Vajra Trust
  • Scrip Code 976743: VAJRA 015 TRUST – VT-9.25%-20-10-26-PTC (ISIN: INE20NI15013) – Redemption of PTC
  • Scrip Code 976276: VAJRA 014 TRUST – VT-9.25%-20-7-26-PTC (ISIN: INE1EJ815016) – Redemption of PTC
  • Both PTCs carry a coupon rate of 9.25%
  • Trading suspension is referenced under circular DR-828/2025-2026

Regulatory Changes

No new regulatory framework introduced. This notice is an operational action under existing debt market rules governing the suspension of trading upon redemption of debt instruments.

Compliance Requirements

  • All trading members of BSE are required to stop dealing in the two specified PTCs (Scrip Codes 976743 and 976276) from February 25, 2026 onwards
  • Trading members must take note of this notice and ensure no transactions are executed in these instruments post the effective date

Important Dates

  • Notice Date: February 24, 2026
  • Suspension Effective Date: February 25, 2026
  • Maturity/Redemption Dates: July 20, 2026 (VAJRA 014) and October 20, 2026 (VAJRA 015)

Impact Assessment

The suspension is limited to debt segment participants holding or trading in these two PTCs of Vajra Trust. The impact is narrow in scope, affecting only those members dealing in these specific instruments. The redemption is a routine end-of-lifecycle event for structured debt products; no broader market disruption is anticipated.

Impact Justification

Suspension affects two specific PTCs of Vajra Trust due to upcoming redemption; limited to debt segment participants dealing in these instruments.