Description
BSE notifies revision of terms for two NCDs of Shri Ram Finance Corporation Pvt Ltd, changing the mode of security from Unsecured to Secured NCDs with new ISINs, effective May 06, 2026.
Summary
BSE has issued an update (Notice No. 20260505-17) in continuation of Notice No. 20260415-23 dated April 15, 2026, regarding the debt securities of SHRI RAM FINANCE CORPORATION Pvt Ltd. Two NCD scrips will be available for trading with revised terms effective Wednesday, May 06, 2026. The key change is the reclassification of the mode of security from Unsecured NCDs to Secured NCDs, along with revised ISINs.
Key Points
- Effective date for revised terms: Wednesday, May 06, 2026
- Two scrip codes affected: 977490 (ISIN: INE08E808074) and 977489 (ISIN: INE08E808066)
- Mode of security revised from Unsecured NCDs to Secured NCDs
- New ISINs assigned: INE08E807159 (replacing INE08E808074) and INE08E807167 (replacing INE08E808066)
- This notice continues from Notice No. 20260415-23 dated April 15, 2026
- No attachments to the notice
Regulatory Changes
The revised terms for the two NCDs are as follows:
| Particulars | Existing Terms | Revised Terms |
|---|---|---|
| Mode of Security | Unsecured NCDs | Secured NCDs |
| ISIN (Scrip 977490) | INE08E808074 | INE08E807159 |
| ISIN (Scrip 977489) | INE08E808066 | INE08E807167 |
Compliance Requirements
- Trading Members must note the revised ISINs and updated security classification before transacting in these scrips from May 06, 2026.
- Members should update their systems to reflect the new ISINs: INE08E807159 and INE08E807167.
- For further details, Trading Members may contact Mr. Akash Shinde at +91 22 2272 8597 or debt.listing@bseindia.com, or Hardik Bhuta, Assistant Vice President.
Important Dates
- April 15, 2026: Original notice (20260415-23) issued regarding these debt securities
- May 05, 2026: This update notice issued
- May 06, 2026 (Wednesday): Revised terms become effective for trading
Impact Assessment
The reclassification from Unsecured to Secured NCDs represents a material improvement in credit quality for holders of these instruments, as secured NCDs carry a charge on the issuer’s assets. The concurrent ISIN revision requires Trading Members to update references in their systems. Impact is limited to participants holding or trading these two specific NCD scrips of a private limited company; broader market impact is low.
Impact Justification
Revision affects two specific NCD scrips by changing security type from unsecured to secured and assigning new ISINs; material change for existing holders and trading members but limited to a private company's debt instruments.