Description

NSE suspends trading in non-convertible securities of Bank of Baroda, Union Bank of India, and Sammaan Capital Limited effective December 26, 2025 due to redemption and call option exercise.

Summary

National Stock Exchange has issued a circular suspending trading in four non-convertible securities (privately placed) effective December 26, 2025. The suspension affects debt instruments issued by Bank of Baroda, Union Bank of India, and Sammaan Capital Limited. The suspensions are due to redemption events and exercise of call options in accordance with Regulation 3.1.2 of the NSE Debt Market (Trading) Regulations Part A.

Key Points

  • Four non-convertible securities will be suspended from trading on NSE’s debt market segment
  • Suspension effective date: December 26, 2025
  • Bank of Baroda (ISIN: INE028A08240) - suspended due to redemption for exercising call option
  • Union Bank of India (ISIN: INE692A08128) - suspended due to redemption for exercising call option
  • Sammaan Capital Limited (ISIN: INE148I07DO4) - suspended due to redemption
  • Sammaan Capital Limited (ISIN: INE148I07DN6) - suspended due to redemption
  • Action taken under NSE Debt Market (Trading) Regulations Part A, Regulation 3.1.2

Regulatory Changes

No new regulatory changes introduced. This circular implements existing provisions under Regulation 3.1.2 of the National Stock Exchange Debt Market (Trading) Regulations Part A, which governs suspension of trading in debt securities.

Compliance Requirements

  • Market participants must cease trading in the specified ISINs from December 26, 2025
  • Members are notified to update their systems and trading platforms accordingly
  • No trading shall be permitted in these securities post the suspension date

Important Dates

  • Circular Date: December 24, 2025
  • Suspension Effective Date: December 26, 2025

Impact Assessment

The impact is limited to holders and traders of these specific non-convertible debt securities. The suspension is procedural and relates to the natural lifecycle events of these debt instruments (redemption and call option exercise). Equity shares of Bank of Baroda and Union Bank of India remain unaffected. Investors holding these debt securities should expect redemption proceedings as per the terms of issuance. No broader market disruption is anticipated as this is a routine administrative action for maturing or called debt instruments.

Impact Justification

Routine suspension of debt securities due to redemption and call option exercise. Impacts specific debt instruments but not equity trading or broader market operations.