Description
BSE advises trading members to suspend dealing in NCDs/Bonds of 11 companies including Power Finance Corporation, L&T Finance, Mahindra Rural Housing Finance, and others that have fixed record dates for interest payment or redemption between April 16 and May 3, 2026.
Summary
BSE Notice No. 20260410-18 directs all trading members to refrain from dealing in the Non-Convertible Debentures (NCDs) and Bonds of specified companies that have fixed record dates for the purpose of interest payment or redemption. A total of 14 debt instruments across 11 companies are covered, with record dates ranging from April 16 to May 3, 2026.
Key Points
- Trading members must not deal in the listed NCDs/Bonds on or around their respective record dates and ex-dates.
- 14 debt instruments from 11 issuers are subject to this suspension.
- Suspensions are for the purpose of payment of interest and/or redemption of principal.
- Settlement references range from Series 611/2026-2027 to 621/2026-2027.
- Issued by Marian Dsouza, Assistant Vice President – Listing Compliance and Operations.
Regulatory Changes
No new regulatory framework is introduced. This is a standard operational notice under BSE’s debt segment listing compliance procedures, enforcing trading restrictions around corporate action record dates for debt instruments.
Compliance Requirements
- Trading members must cease dealing in the specified debentures/bonds effective the respective ex-dates.
- Members must ensure no transactions are executed in the listed ISIN codes on or after the stated ex-dates until further notice.
- Compliance is mandatory for all members active in the Debt segment.
Important Dates
| Scrip Code | Company | Scrip ID | ISIN | Record Date | Ex Date |
|---|---|---|---|---|---|
| 953885 | Power Finance Corporation Ltd | PFC-8.03%-2-5-26-PVT | INE134E08IE1 | 16/04/2026 | 16/04/2026 |
| 936622 | Kosamattam Finance Limited | KFL-ZC-5-5-26-NCD | INE403Q08167 | 20/04/2026 | 20/04/2026 |
| 953906 | Mahindra Rural Housing Finance Limited | MRHFL-8.90%-05-05-26-PVT | INE950O08048 | 20/04/2026 | 20/04/2026 |
| 973185 | Achiievers Finance India Limited | AFIL-11.75%-7-5-26 | INE065507373 | 20/04/2026 | 20/04/2026 |
| 973188 | Achiievers Finance India Limited | AFIL-12.25%-7-5-26 | INE065507407 | 20/04/2026 | 20/04/2026 |
| 953904 | Mahindra Rural Housing Finance Limited | MRHFL-9.10%-06-05-26-PVT | INE950O08055 | 21/04/2026 | 21/04/2026 |
| 953950 | L&T Finance Limited | LTF-8.6700%-06-05-26-PVT | INE235P07316 | 21/04/2026 | 21/04/2026 |
| 975371 | Poonawalla Fincorp Limited | PWFL-8.38%-7-5-26-PVT | INE511C07797 | 22/04/2026 | 22/04/2026 |
| 938596 | Sakthi Finance Ltd. | SFL-9.25%-8-5-26-NCD | INE302E07540 | 23/04/2026 | 23/04/2026 |
| 938598 | Sakthi Finance Ltd. | SFL-08-5-26-NCD | INE302E07516 | 23/04/2026 | 23/04/2026 |
| 939707 | Muthoot Mercantile Limited | MML-10.80%-11-5-26-NCD | INE05F407CP4 | 24/04/2026 | 24/04/2026 |
| 939709 | Muthoot Mercantile Limited | MML-11-5-26-NCD | INE05F407CN9 | 24/04/2026 | 24/04/2026 |
| 954028 | Mahindra Rural Housing Finance Limited | MRHFL-9.10%-18-05-26-PVT | INE950O08063 | 03/05/2026 | 30/04/2026 |
| 976498 | Standard Chartered Capital Limited | SCCL-8.05%-18-5-26-PVT | INE403G07103 | 30/04/2026 | 30/04/2026 |
Impact Assessment
This circular has a moderate operational impact on debt segment participants. Trading members holding or transacting in the 14 listed ISIN codes must suspend activity around the specified ex-dates. The suspension is temporary and limited to each instrument’s record/ex-date window. NCD holders are unaffected in terms of their interest/redemption entitlements — the suspension exists to ensure clean settlement of corporate action benefits. No equity market impact is expected. Instruments span multiple well-known NBFC and financial institution issuers, including PFC, L&T Finance, and Mahindra Rural Housing Finance.
Impact Justification
Routine debt market circular directing trading suspension around record dates for NCD/bond interest payments and redemptions across 14 instruments from 11 companies; affects debt segment participants but is a standard operational notice.