Description
BSE notifies trading members of partial redemption of Pass Through Certificates (PTCs) of MAGNETRON AUG 2025, with reduced face values of Rs. 4747.31 and Rs. 8006.21 per PTC effective April 30, 2026.
Summary
BSE has issued a notice (No. 20260429-5) informing trading members that Mitcon Credentia Trusteeship Services Ltd has communicated the reduced face values arising from partial redemption of Pass Through Certificates (PTCs) issued under MAGNETRON AUG 2025. Two ISIN-specific PTCs are affected, with new reduced face values effective from April 30, 2026.
Key Points
- Mitcon Credentia Trusteeship Services Ltd notified BSE of partial redemption of MAGNETRON AUG 2025 PTCs
- Two PTCs under the same series (MA2025-11.50%-28-07-28-PTC) are affected with different ISINs and reduced face values
- INE2GPJ15012 (Scrip Code 977078): Reduced Face Value of Rs. 4747.31 per PTC
- INE2GPJ15020 (Scrip Code 977079): Reduced Face Value of Rs. 8006.21 per PTC
- Effective date for trading at reduced face value: April 30, 2026
- Reference: DR-621/2026-2027
Regulatory Changes
No new regulatory framework is introduced. This notice operationalizes a partial redemption event under existing debt market and PTC regulations, resulting in updated face values for the affected instruments on the BSE debt segment.
Compliance Requirements
- Trading members are required to take note of the revised reduced face values for both PTCs
- All trades in INE2GPJ15012 (977078) and INE2GPJ15020 (977079) must reflect the new reduced face values from April 30, 2026 onwards
- Members should update their systems and client records accordingly
Important Dates
- April 29, 2026: Notice date; partial redemption information communicated by trustee
- April 30, 2026: Effective date for trading at reduced face values (DR-621/2026-2027)
Impact Assessment
This partial redemption affects holders of MAGNETRON AUG 2025 PTCs under two ISINs in the debt segment. The reduction in face value reflects the return of principal to PTC holders as per the underlying securitisation structure. Trading members dealing in these instruments must update settlement and pricing systems to reflect the new face values. The impact is limited to participants holding or trading these specific debt instruments and does not affect broader equity or other debt markets.
Impact Justification
Routine partial redemption notice affecting two debt segment PTCs of Magnetron Aug 2025; operationally significant for holders of these specific instruments but limited broader market impact.