Description
NSE suspends trading in NCDs of Axis Bank, IDFC First Bank, and Reliance Industries due to redemption effective October 15, 2025.
Summary
NSE has announced the suspension of trading in three Non-Convertible Debentures (NCDs) that were privately placed. The suspension is effective from October 15, 2025, and applies to NCDs issued by Axis Bank Limited, IDFC First Bank Limited, and Reliance Industries Limited. The reason for suspension is the redemption of these debt securities.
Key Points
- Three NCDs will be suspended from trading on NSE Debt Market
- Suspension is pursuant to Regulation 3.1.2 of the National Stock Exchange Debt Market (Trading) Regulations Part A
- All suspended securities are privately placed Non-Convertible Debentures
- Suspension reason: Redemption of the debt instruments
- Circular reference: NSE/CML/70814, Circular Ref. No: 2019/2025
Affected Securities
| Company Name | ISIN | Suspension Date | Reason |
|---|---|---|---|
| Axis Bank Limited | INE238A08385 | October 15, 2025 | Redemption |
| IDFC First Bank Limited | INE688I08095 | October 15, 2025 | Redemption |
| Reliance Industries Limited | INE110L07047 | October 15, 2025 | Redemption |
Regulatory Framework
This suspension is implemented under Regulation 3.1.2 of the National Stock Exchange Debt Market (Trading) Regulations Part A, which governs the trading of debt securities on the exchange.
Important Dates
- Circular Issue Date: October 14, 2025
- Suspension Effective Date: October 15, 2025
Impact Assessment
Market Impact: Limited and routine. This is a standard operational suspension due to the scheduled redemption of debt securities. Holders of these NCDs will receive redemption proceeds as per the terms of the instruments.
Investor Impact: Investors holding these specific ISINs will not be able to trade them on NSE after the suspension date. However, this is expected as the securities are being redeemed.
Operational Impact: Minimal. This is a routine corporate action that regularly occurs in the debt market when securities reach maturity or are called for redemption by the issuer.
Impact Justification
Routine trading suspension due to scheduled redemption of NCDs. Affects debt market participants holding these specific ISINs but is a standard operational matter with no broader market implications.