Description
BSE notification of corporate actions affecting Securities Lending and Borrowing (SLB) positions for eClerx Services (bonus issue), RailTel Corporation, and Indian Railway Finance Corporation (dividends), all with record date of 13-March-2026.
Summary
BSE has notified corporate actions for three securities that have active positions in the Securities Lending and Borrowing (SLB) segment. eClerx Services Limited is undergoing a bonus issue, while RailTel Corporation of India Limited and Indian Railway Finance Corporation are both declaring dividends. All three actions share a record date of 13-March-2026, with a shut period from 12-March-2026 to 13-March-2026.
Key Points
- eClerx Services Limited (bonus issue): Record date and ex-date both on 13-March-2026; foreclosure date is 13-March-2026
- RailTel Corporation of India Limited (dividend): Record date and ex-date both on 13-March-2026; no foreclosure date specified
- Indian Railway Finance Corporation (dividend): Record date and ex-date both on 13-March-2026; no foreclosure date specified
- Shut period for all three securities: 12-March-2026 to 13-March-2026
- SLB participants holding open positions in these securities must account for these corporate actions
Regulatory Changes
No new regulatory changes introduced. This is an operational notification under existing SLB framework rules that mandate disclosure of corporate actions impacting lent/borrowed securities.
Compliance Requirements
- SLB participants with open positions in eClerx Services, RailTel Corporation, or Indian Railway Finance Corporation must review their positions ahead of the shut period (12-March-2026)
- For eClerx Services, the foreclosure date of 13-March-2026 means open SLB contracts may be subject to foreclosure due to the bonus issue
- Participants should ensure settlement of any obligations arising from corporate actions on lent securities per BSE SLB guidelines
Important Dates
| Security | Corporate Action | Ex Date | Record Date | Foreclosure Date | Shut Period |
|---|---|---|---|---|---|
| eClerx Services Limited | Bonus Issue | 13-Mar-2026 | 13-Mar-2026 | 13-Mar-2026 | 12-Mar-2026 to 13-Mar-2026 |
| RailTel Corporation of India Limited | Dividend | 13-Mar-2026 | 13-Mar-2026 | N/A | 12-Mar-2026 to 13-Mar-2026 |
| Indian Railway Finance Corporation | Dividend | 13-Mar-2026 | 13-Mar-2026 | N/A | 12-Mar-2026 to 13-Mar-2026 |
Impact Assessment
The primary impact is on participants in the SLB segment holding open contracts in these three securities. The eClerx bonus issue carries the highest operational complexity as it triggers a foreclosure date, meaning open SLB positions in ECLX will need to be settled or adjusted to account for the change in share count. For the two dividend-paying securities (RAILTEL and IRFC), lenders may be entitled to manufactured dividends from borrowers per standard SLB settlement norms. The shut period of 12–13 March 2026 restricts new lending/borrowing activity in these securities, limiting liquidity in the SLB segment for this window.
Impact Justification
Affects SLB positions in three securities with imminent record dates on 13-March-2026; participants with open lending/borrowing positions must act before the shut period ending 12-March-2026.