Description
BSE advises trading members not to deal in NCDs/bonds of 11 companies including L&T Metro Rail, Kotak Mahindra Bank, IRFC, Muthoot Fincorp, and REC Limited, ahead of record dates for interest payment or redemption between April 10–15, 2026.
Summary
BSE Notice No. 20260408-45 dated April 8, 2026 directs trading members to refrain from dealing in the Non-Convertible Debentures (NCDs) and bonds of 11 companies. These companies have fixed record dates for payment of interest and/or redemption of their debt instruments, effective between April 10 and April 15, 2026.
Key Points
- Trading suspension applies to specific NCD/bond scrips of 11 companies listed on the BSE Debt segment
- Record dates fall between April 10–15, 2026, with ex-dates on or just before the record dates
- Settlements are categorized under DR series 608/2026-2027, 609/2026-2027, and 610/2026-2027
- Suspension is for purposes of interest payment and/or redemption of principal
- Notice issued by Listing Compliance and Operations department
Regulatory Changes
No new regulatory changes; this is a routine operational notice under existing BSE guidelines governing trading suspensions around record dates for debt instruments.
Compliance Requirements
- Trading members must not execute any trades in the listed NCD/bond scrips during the suspension period around respective record and ex-dates
- Members are expected to communicate this restriction to their clients dealing in these debt instruments
Important Dates
| Scrip Code | Company | Scrip ID | ISIN | Record Date | Ex Date | Settlement |
|---|---|---|---|---|---|---|
| 973697 | L&T Metro Rail (Hyderabad) Limited | LTMRHL-6.58%-30-4-26-PVT | INE128M08078 | 10/04/2026 | 10/04/2026 | 608/2026-2027 |
| 953986 | ECL Finance Limited | ECL-NIFTY-D6E601A-28-04-26-PVT | INE804I08684 | 13/04/2026 | 13/04/2026 | 609/2026-2027 |
| 958687 | Kotak Mahindra Bank Ltd. | KMBL-8.25%-28-4-26-PVT | INE237A08940 | 13/04/2026 | 13/04/2026 | 609/2026-2027 |
| 972649 | Indian Railway Finance Corporation | IRFC-76A-9.33%-10-05-2026-PVT | INE053F09HP6 | 13/04/2026 | 13/04/2026 | 609/2026-2027 |
| 975629 | CSA Investments Private Limited | CSAIPL-14.25%-29-04-26-PVT | INE0LWH07054 | 14/04/2026 | 13/04/2026 | 609/2026-2027 |
| 937547 | Muthoot Fincorp Limited | MFCL-8.75%-7-5-26-NCD | INE549K07AJ5 | 15/04/2026 | 15/04/2026 | 610/2026-2027 |
| 937557 | Muthoot Fincorp Limited | MFCL-ZC-7-5-26-NCD | INE549K07AO5 | 15/04/2026 | 15/04/2026 | 610/2026-2027 |
| 937981 | Sakthi Finance Ltd. | SFL-9%-29-4-26-NCD | INE302E07441 | 15/04/2026 | 15/04/2026 | 610/2026-2027 |
| 937983 | Sakthi Finance Ltd. | SFL-29-4-26-NCD | INE302E07458 | 15/04/2026 | 15/04/2026 | 610/2026-2027 |
| 952011 | Jhajjar Power Limited | JPL-9.99%-30-4-26-PVT | INE165K07027 | 15/04/2026 | 15/04/2026 | 610/2026-2027 |
| 974898 | REC Limited | 7.44%-RL-30-4-26-PVT | INE020B08EL2 | 15/04/2026 | 15/04/2026 | 610/2026-2027 |
Impact Assessment
This is a standard pre-redemption/interest-payment trading suspension notice with moderate impact confined to the debt segment. The affected instruments are maturing or paying interest in the near term (April–May 2026), making secondary market trading moot beyond the record date. Notable names include public sector entities IRFC and REC Limited, as well as large private issuers such as Kotak Mahindra Bank and Muthoot Fincorp. Holders of these instruments should note the ex-dates to ensure eligibility for interest or redemption proceeds. No equity market impact is expected.
Impact Justification
Routine trading suspension notice for debt instruments ahead of record dates for interest/redemption; affects trading members dealing in these specific NCDs/bonds across 11 companies including PSU entities like IRFC and REC.