Description

BSE notifies revision in terms of debt securities of Grand Hills Developments Private Limited, changing the mode of security from Unsecured NCDs to Secured NCDs with revised ISINs effective February 27, 2026.

Summary

BSE has issued an update (Notice No. 20260226-12) in continuation of earlier Notice No. 20260105-22 dated January 5, 2026, regarding the debt securities of Grand Hills Developments Private Limited. Effective Friday, February 27, 2026, two scrip codes (977284 and 977285) will be available for trading under revised terms, with the mode of security changing from Unsecured NCDs to Secured NCDs and new ISINs assigned.

Key Points

  • Continuation of earlier notice 20260105-22 dated January 5, 2026
  • Effective date for revised terms: Friday, February 27, 2026
  • Two scrip codes affected: 977284 (ISIN: INE0DWX08023) and 977285 (ISIN: INE0DWX08015)
  • Mode of security revised from Unsecured NCDs to Secured NCDs
  • New ISINs assigned: INE0DWX07033 (replacing INE0DWX08023) and INE0DWX07041 (replacing INE0DWX08015)
  • Trading members advised to contact BSE debt listing officials for further details

Regulatory Changes

  • Scrip Code 977284: ISIN changed from INE0DWX08023 to INE0DWX07033; security upgraded from Unsecured NCD to Secured NCD
  • Scrip Code 977285: ISIN changed from INE0DWX08015 to INE0DWX07041; security upgraded from Unsecured NCD to Secured NCD

Compliance Requirements

  • Trading members must note the revised scrip codes, ISINs, and updated security terms before executing transactions from February 27, 2026
  • Members should update their systems to reflect the new ISINs for both scrip codes
  • For queries, contact Ms. Pooja Trivedi at +91 22 2272 8844 or debt.listing@bseindia.com, or Hardik Bhuta (Assistant Vice President)

Important Dates

  • January 5, 2026: Original notice (20260105-22) issued
  • February 26, 2026: This update notice issued
  • February 27, 2026: Effective date for revised terms and new ISINs

Impact Assessment

The change from Unsecured NCDs to Secured NCDs represents an improvement in credit quality and investor protection for holders of these debt securities. The ISIN revision requires trading members to update their systems before February 27, 2026 to ensure smooth trading. Impact is limited to participants trading in or holding these specific NCD scrips of Grand Hills Developments Private Limited.

Impact Justification

Material change in security type from unsecured to secured NCDs with new ISINs affects trading members and NCD holders of Grand Hills Developments; limited broader market impact but significant for affected securities.