Description
NSE suspends trading in Non-Convertible Debentures of L&T Finance Limited, Clix Capital Services Private Limited, and Larsen & Toubro Limited due to redemption.
Summary
The National Stock Exchange of India has announced the suspension of trading in Non-Convertible Debentures (Privately Placed) for three companies effective October 24, 2025. The suspension is being implemented in accordance with Regulation 3.1.2 of the National Stock Exchange Debt Market (Trading) Regulations Part A. All three suspensions are due to redemption of the respective debentures.
Key Points
- Three Non-Convertible Debentures will be suspended from trading effective October 24, 2025
- All suspensions are due to redemption of the debentures
- Affected securities include debt instruments from L&T Finance Limited, Clix Capital Services Private Limited, and Larsen & Toubro Limited
- Suspension is in compliance with NSE Debt Market Trading Regulations Part A, Regulation 3.1.2
- Circular reference number: NSE/CML/70922, dated October 23, 2025
Regulatory Changes
No new regulatory changes are introduced. This circular implements existing Regulation 3.1.2 of the National Stock Exchange Debt Market (Trading) Regulations Part A, which governs the suspension of debt securities.
Compliance Requirements
Members must note the suspension of the following securities:
- L&T Finance Limited - ISIN: INE027E07CC6
- Clix Capital Services Private Limited - ISIN: INE157D07DU3
- Larsen & Toubro Limited - ISIN: INE018A08BK6
Trading members should ensure their systems are updated to reflect the suspension status and prevent any trading attempts in these instruments from the suspension date.
Important Dates
- Circular Date: October 23, 2025
- Suspension Effective Date: October 24, 2025 (for all three NCDs)
Impact Assessment
Market Impact: Medium - The suspension affects holders of privately placed Non-Convertible Debentures in three companies. Since these are redemptions, investors will receive their principal back according to the terms of the debentures.
Investor Impact: Debenture holders in these three instruments will no longer be able to trade these securities on the exchange from October 24, 2025. However, this is a standard process for maturing debt securities, and investors should receive redemption proceeds as per the original terms.
Operational Impact: Trading members need to update their systems to reflect the suspension and ensure no trades are executed in these ISINs after the suspension date. This is a routine operational update for debt market participants.
Impact Justification
Routine suspension of NCDs due to redemption affecting debt market investors in three companies. Medium impact as it affects debt securities holders but is a standard redemption process.