Description
NSE notifies suspension of trading in privately placed non-convertible securities of Axis Bank, L&T Finance, and Power Grid Corporation of India effective May 12, 2026, due to redemption.
Summary
NSE has notified the suspension of trading in three privately placed Non-Convertible Securities (NCS) effective May 12, 2026, under Regulation 3.1.2 of the National Stock Exchange Debt Market (Trading) Regulations Part A. The suspensions are due to redemption of the respective instruments issued by Axis Bank Limited, L&T Finance Limited, and Power Grid Corporation of India Limited.
Key Points
- Three NCS instruments will be suspended from trading on the NSE Debt Market segment effective May 12, 2026
- All suspensions are triggered by redemption of the respective securities
- The circular is issued under Regulation 3.1.2 of NSE Debt Market (Trading) Regulations Part A
- Circular reference: NSE/CML/74152, Circular Ref. No. 0760/2026
Regulatory Changes
No new regulatory changes. This is a routine operational notification under existing Regulation 3.1.2 of the National Stock Exchange Debt Market (Trading) Regulations Part A, which governs suspension of trading in debt securities upon redemption.
Compliance Requirements
- All NSE members are notified to cease trading in the listed ISIN codes effective May 12, 2026
- No further action required from listed companies; this is an exchange-initiated suspension upon redemption
Important Dates
- Circular Date: May 11, 2026
- Suspension Effective Date: May 12, 2026 (for all three securities)
Impact Assessment
| Sr. No. | Company Name | ISIN | Suspension Date | Reason |
|---|---|---|---|---|
| 1 | Axis Bank Limited | INE238A08393 | 12-May-2026 | Redemption |
| 2 | L&T Finance Limited | INE027E07AP2 | 12-May-2026 | Redemption |
| 3 | Power Grid Corporation of India Limited | INE752E07MS4 | 12-May-2026 | Redemption |
The impact is limited to holders of these specific debt instruments in the NSE Debt Market segment. Since the suspensions are due to redemption, investors will receive the redemption proceeds as per the terms of the respective securities. Equity trading in Axis Bank, L&T Finance, and Power Grid Corporation remains unaffected.
Impact Justification
Routine suspension of three NCS instruments upon redemption; affects specific debt instruments only, not equity trading of these companies.