Description
BSE has directed trading members to suspend dealings in L&T Finance Limited's perpetual NCD (INE691I08438) from 13 March 2026, ahead of redemption on exercise of call option on the same date.
Summary
BSE Notice No. 20260311-75 informs trading members that L&T Finance Limited has fixed 13 March 2026 as the Record Date for the redemption of its perpetual Non-Convertible Debentures (NCD) under exercise of a call option. Trading members are advised not to deal in the specified debenture (scrip code 953756, ISIN INE691I08438) with effect from 13 March 2026.
Key Points
- Company: L&T Finance Limited
- Instrument: LTF-PERPETUAL-PVT | ISIN: INE691I08438 | Scrip Code: 953756
- Record Date: 13 March 2026
- Purpose: Redemption on Exercise of Call Option
- No dealings permitted from: 13 March 2026
- Circular Reference: DR-839/2025-2026
Regulatory Changes
No new regulatory framework is introduced. This is a standard operational notice issued under BSE’s existing procedures for corporate actions on debt securities.
Compliance Requirements
- Trading members must cease all transactions in INE691I08438 (scrip code 953756) on and from 13 March 2026.
- Members should update their systems and client advisories to reflect the trading suspension for this instrument.
Important Dates
- Notice Date: 11 March 2026
- Record Date / No-Dealing Effective Date: 13 March 2026
Impact Assessment
The suspension is limited to a single perpetual NCD of L&T Finance Limited and applies only from the record date. Market impact is narrow, affecting only holders or prospective traders of this specific instrument. The redemption via call option signals the company is retiring this debt security, which may have minor implications for L&T Finance’s debt profile but no broad market consequence.
Impact Justification
Affects a single NCD instrument of L&T Finance Limited; trading suspension is limited in scope and duration, tied to a specific redemption event via call option exercise.