Description

NSE suspends trading in privately placed non-convertible securities of HDFC Bank Limited and REC Limited effective May 15, 2026, due to redemption.

Summary

NSE’s Listing Department has notified the suspension of trading in two privately placed non-convertible securities issued by HDFC Bank Limited and REC Limited. The suspension is effective May 15, 2026, and is triggered by the redemption of the respective instruments. This action is in pursuance of Regulation 3.1.2 of the National Stock Exchange Debt Market (Trading) Regulations Part A.

Key Points

  • Trading in HDFC Bank Limited NCS (ISIN: INE040A08617) will be suspended from May 15, 2026.
  • Trading in REC Limited NCS (ISIN: INE020B08ES7) will be suspended from May 15, 2026.
  • Reason for suspension in both cases is redemption of the securities.
  • Circular issued under Ref No: NSE/CML/74222, Circular Ref. No: 0784/2026.

Regulatory Changes

No new regulatory changes introduced. Action is taken under existing Regulation 3.1.2 of the NSE Debt Market (Trading) Regulations Part A, which governs suspension of debt securities upon maturity or redemption.

Compliance Requirements

  • All NSE members are notified to cease trading in the specified ISINs from the effective suspension date.
  • No further trading activity should be initiated in INE040A08617 or INE020B08ES7 on or after May 15, 2026.

Important Dates

  • Circular Date: May 14, 2026
  • Suspension Effective Date: May 15, 2026 (for both securities)

Impact Assessment

The suspension is a routine, end-of-lifecycle action for two debt instruments approaching redemption. Holders of these securities (INE040A08617 - HDFC Bank; INE020B08ES7 - REC Limited) will have their positions redeemed as per the terms of the instrument. Secondary market trading in these ISINs will cease from May 15, 2026. No broader market impact is anticipated; this is standard procedure for maturing privately placed non-convertible securities on NSE’s debt market platform.

Impact Justification

Routine suspension of two debt securities due to scheduled redemption; affects holders of specific ISINs of HDFC Bank and REC Limited but is a standard end-of-lifecycle action with no broader market disruption.