Description
NSE suspends trading in Non-Convertible Debentures of five companies effective November 21, 2025 due to redemption and call option exercise.
Summary
The National Stock Exchange has announced the suspension of trading in five Non-Convertible Debentures (Privately Placed) effective November 21, 2025. The suspensions are being implemented under Regulation 3.1.2 of the National Stock Exchange Debt Market (Trading) Regulations Part A, primarily due to redemption of the instruments.
Key Points
- Five NCDs from major financial and telecom companies to be suspended from trading
- All suspensions effective from November 21, 2025
- Four instruments suspended due to redemption
- One instrument (Citicorp Finance) suspended for exercising call option
- Circular reference number: 2260/2025
- NSE reference number: NSE/CML/71380
Affected Instruments
Indus Towers Limited
- ISIN: INE121J08020
- Suspension Date: November 21, 2025
- Reason: Redemption
Bharti Telecom Limited
- ISIN: INE403D08165
- Suspension Date: November 21, 2025
- Reason: Redemption
Export Import Bank of India
- ISIN: INE514E08EU9
- Suspension Date: November 21, 2025
- Reason: Redemption
Tata Capital Limited
- ISIN: INE306N07NG3
- Suspension Date: November 21, 2025
- Reason: Redemption
Citicorp Finance (India) Limited
- ISIN: INE915D08CY6
- Suspension Date: November 21, 2025
- Reason: Redemption for exercising call option
Regulatory Framework
This action is taken in pursuance of Regulation 3.1.2 of the National Stock Exchange Debt Market (Trading) Regulations Part A, which governs the suspension of debt securities from trading.
Important Dates
- Circular Issue Date: November 20, 2025
- Suspension Effective Date: November 21, 2025 (for all five instruments)
Impact Assessment
The suspension of these NCDs represents a routine market event as these privately placed debt instruments reach their redemption dates. The impact is limited to existing holders of these specific ISINs who will receive redemption proceeds as per the terms of issuance. No new trading will be permitted in these instruments from the suspension date. The presence of established issuers like Tata Capital, Export Import Bank of India, and telecom-related entities (Indus Towers, Bharti Telecom) indicates these are scheduled maturities rather than distressed situations.
Impact Justification
Routine suspension of NCDs due to redemption affecting five instruments; limited market impact as these are privately placed debt securities reaching maturity