Description
BSE notifies trading members of part redemption and interest payment for two NCD series of Greaves Finance Limited, with reduced face values effective March 13, 2026.
Summary
BSE has informed trading members that Greaves Finance Limited has fixed record dates for the part redemption and interest payment of two series of Non-Convertible Debentures (NCDs). Trading in these debentures will be conducted with a reduced face value effective March 13, 2026, under Settlement No. DR-839/2025-2026.
Key Points
- Two NCD series of Greaves Finance Limited are subject to part redemption and interest payment
- Series 1: GFL-10.50%-29-9-27-PVT (ISIN: INE1QWF07014, Code: 977162) — Record Date: March 14, 2026; Reduced Face Value: Rs. 74,998 per debenture
- Series 2: GFL-11.50%-30-04-27-UL-PVT (ISIN: INE1QWF07022, Code: 977441) — Record Date: March 15, 2026; Reduced Face Value: Rs. 54,166.63 per debenture
- Both series will trade at reduced face value effective March 13, 2026
- Settlement applicable: DR-839/2025-2026
Regulatory Changes
No new regulatory changes. This is a standard corporate action notification under BSE’s listing compliance framework for debt instruments.
Compliance Requirements
- Trading members must note the reduced face values for both NCD series effective March 13, 2026
- Trades executed on or after the effective date must reflect the reduced face value
- Members should update client records accordingly for both ISIN codes
Important Dates
| Series | Record Date | Effective Date for Reduced Face Value | Settlement No. |
|---|---|---|---|
| GFL-10.50%-29-9-27-PVT (INE1QWF07014) | March 14, 2026 | March 13, 2026 | DR-839/2025-2026 |
| GFL-11.50%-30-04-27-UL-PVT (INE1QWF07022) | March 15, 2026 | March 13, 2026 | DR-839/2025-2026 |
Impact Assessment
This circular primarily affects holders of Greaves Finance Limited’s privately placed NCDs. The part redemption reduces the outstanding face value of each debenture, and interest is payable based on the respective record dates. Broader market impact is limited given the private placement nature of these instruments. Trading members dealing in these debentures must ensure systems reflect the revised face values from March 13, 2026 to avoid pricing discrepancies.
Impact Justification
Routine part redemption of private debentures affecting existing NCD holders; no broad market impact but directly relevant to holders of these instruments.