Description
BSE notifies trading members of partial redemption of Pass Through Certificates (PTCs) across 10 Vajra Trust series, with reduced face values effective April 24, 2026.
Summary
BSE Notice No. 20260423-15 informs trading members that Axis Trustee Services Limited has communicated reduced face values on partial redemption of Pass Through Certificates (PTCs) across 10 Vajra Trust series. These PTCs will trade at the new reduced face values with effect from April 24, 2026 (Reference: DR-617/2026-2027).
Key Points
- Axis Trustee Services Limited has notified BSE of partial redemption across 10 Vajra Trust PTC series
- All affected PTCs are in the Debt segment under Listing Operations
- Reduced face values are effective from April 24, 2026
- Trading members must note and apply the new reduced face values for these instruments
- The notice covers PTCs with coupon rates ranging from 9.25% to 9.75%
Regulatory Changes
No new regulatory framework is introduced. This is a corporate action notice reflecting partial redemption of existing debt instruments, resulting in revised (reduced) face values for the listed PTCs.
Compliance Requirements
- Trading members are required to take note of the revised face values for all 10 affected PTC scrips
- All trades in these PTCs from April 24, 2026 onwards must reflect the reduced face values as specified
Important Dates
- Notice Date: April 23, 2026
- Effective Date of Reduced Face Value: April 24, 2026
- Reference: DR-617/2026-2027
Impact Assessment
The partial redemption reduces the outstanding face value of 10 Vajra Trust PTC series. The revised face values per debenture are:
| Trust | Scrip | ISIN | Scrip Code | Reduced Face Value (Rs.) |
|---|---|---|---|---|
| Vajra 010 Trust | VAJRA010-9.50%-20-06-28-PTC | INE0YD715011 | 975785 | 40,10,851.73 |
| Vajra 009 Trust | VJ09T-9.75%-20-1-28-PTC | INE0YD015024 | 975787 | 97,96,193.67 |
| Vajra 007 Trust | V07T-9.75%-20-7-30-PTC | INE0UQJ15015 | 975577 | 17,40,718.38 |
| Vajra 008 Trust | V08T-9.75%-20-2-27-PTC | INE0UQO15015 | 975578 | 13,56,506.20 |
| Vajra 012 Trust | VAJRA 12-9.25%-20-10-28-PTC | INE10VT15014 | 975906 | 5,65,246.95 |
| Vajra 012 Trust | VAJRA-9.25%-20-1-31-PTC | INE10VT15022 | 975907 | 84,27,541.16 |
| Vajra 011 Trust | VJRA011-9.25%-20-9-27-PTC | INE116015012 | 975901 | 29,44,706.81 |
| Vajra 015 Trust | VT-9.25%-20-5-27-PTC | INE20NI15021 | 976744 | 69,75,645.35 |
| Vajra 016 Trust | VJ016T-9.25%-20-6-34-PTC | INE1ZSF15016 | 976719 | 95,70,705.41 |
| Vajra 014 Trust | VT-9.25%-20-9-28-PTC | INE1EJ815024 | 976277 | 86,61,779.94 |
Impact is limited to participants holding or trading these specific debt instruments. The partial redemption is a routine structured finance event for securitisation trusts and does not indicate financial distress.
Impact Justification
Routine partial redemption notice affecting 10 Vajra Trust PTC series in the debt segment; operationally significant for holders and traders of these instruments but limited to a niche set of debt securities.