Description
NSE notifies suspension of trading in five privately placed Non-Convertible Securities effective April 13, 2026, due to redemption by Kotak Mahindra Bank, Konkan Railway, Cholamandalam Investment, IRFC, and PNB Housing Finance.
Summary
NSE’s Listing Department (Circular Ref. No: 0610/2026) notifies the suspension of trading in five privately placed Non-Convertible Securities (NCS) effective April 13, 2026. All suspensions are due to redemption of the respective instruments, in accordance with Regulation 3.1.2 of the National Stock Exchange Debt Market (Trading) Regulations Part A.
Key Points
- Five NCS instruments will be suspended from trading on April 13, 2026
- All suspensions are on account of redemption (maturity)
- Regulation cited: NSE Debt Market (Trading) Regulations Part A, Regulation 3.1.2
- Circular issued by Vishakha Kine, Manager, NSE Listing Department
Regulatory Changes
No new regulatory changes. This circular is an operational notification under the existing framework of NSE Debt Market (Trading) Regulations Part A, Regulation 3.1.2, which governs suspension of trading in debt securities upon redemption.
Compliance Requirements
- Members of NSE are notified to cease trading in the listed NCS instruments from the suspension date
- Issuers and depositories should process redemption settlements as per applicable norms on or after April 13, 2026
Important Dates
- Circular Date: April 10, 2026
- Suspension Effective Date: April 13, 2026 (for all five securities)
Impact Assessment
This is a routine operational action with low market impact. The affected securities are:
| Sr. No. | Company | ISIN | Suspension Date | Reason |
|---|---|---|---|---|
| 1 | Kotak Mahindra Bank Limited | INE237A08940 | 13-Apr-2026 | Redemption |
| 2 | Konkan Railway Corporation Limited | INE139F07097 | 13-Apr-2026 | Redemption |
| 3 | Cholamandalam Investment and Finance Company Limited | INE121A07QO0 | 13-Apr-2026 | Redemption |
| 4 | Indian Railway Finance Corporation Limited | INE053F09HP6 | 13-Apr-2026 | Redemption |
| 5 | PNB Housing Finance Limited | INE572E09346 | 13-Apr-2026 | Redemption |
Holders of these NCS instruments should note that trading will cease from April 13, 2026. Redemption proceeds will be distributed as per the terms of the respective instruments. No adverse credit event is involved; these are standard maturity-driven suspensions.
Impact Justification
Routine administrative suspension of NCS instruments upon maturity/redemption; no adverse event, affects only holders of these specific debt instruments nearing their redemption date.