Description

Piramal Finance Limited securities to be transferred from trade for trade segment (BE series) to rolling segment (EQ series) effective November 21, 2025.

Summary

National Stock Exchange of India has announced the transfer of Piramal Finance Limited securities from the trade for trade segment (Series: BE) to the rolling segment (Series: EQ) effective November 21, 2025. This circular follows the previous exchange circular dated November 04, 2025, and is issued pursuant to SEBI guidelines (CIR/MRD/DP/02/2012 dated January 20, 2012).

Key Points

  • Piramal Finance Limited (Symbol: PIRAMALFIN) will move from BE series to EQ series
  • Transfer from trade for trade segment to rolling segment
  • Change effective from November 21, 2025
  • This is a post-IPO transition measure
  • Issued under SEBI guidelines reference CIR/MRD/DP/02/2012

Regulatory Changes

The securities will transition from:

  • Current Status: Trade for Trade segment (Series: BE) - a restrictive trading mechanism
  • New Status: Rolling segment (Series: EQ) - standard trading mechanism

This change is in compliance with SEBI circular CIR/MRD/DP/02/2012 dated January 20, 2012, which governs the framework for moving securities from trade for trade to rolling settlement.

Compliance Requirements

  • Members should note the segment change for Piramal Finance Limited
  • Update trading systems to reflect the new series (EQ) from November 21, 2025
  • Ensure clients are informed about the transition from BE to EQ series
  • Follow standard rolling settlement procedures post-transition

Important Dates

  • Circular Date: November 07, 2025
  • Effective Date: November 21, 2025
  • Reference Circular: NSE/CML/71132 dated November 04, 2025

Impact Assessment

This transition represents a positive development for Piramal Finance Limited as it moves from the restrictive trade for trade segment to the regular rolling settlement segment. The change will:

  • Enable normal T+1 rolling settlement for PIRAMALFIN securities
  • Improve liquidity as securities can be traded with standard settlement mechanisms
  • Remove trade for trade restrictions that require immediate delivery
  • Allow for intraday trading and standard margin benefits
  • Signal completion of initial post-IPO stabilization period

The impact is medium as this affects all market participants trading in Piramal Finance Limited securities, but represents a routine post-IPO progression rather than a significant market event.

Impact Justification

Routine post-IPO segment transfer for Piramal Finance Limited from restrictive trade-for-trade to normal rolling settlement, enabling regular trading from November 21, 2025