BSE has issued an update (Notice No. 20260421-5) in continuation of earlier notice 20260330-46 dated March 30, 2026, regarding debt securities of Muthoottu MCRED Limited (formerly known as Muthoottu Mini Financiers Ltd). Effective April 22, 2026, two scrip codes will be available for trading with revised terms, primarily involving a change in security status from unsecured NCDs to secured NCDs, along with revised ISINs.

Key Points

• Two NCD scrip codes are affected: 977583 (INE101Q08191, 90,000 NCDs) and 977585 (INE101Q08209, 1,50,000 NCDs)
• Mode of security changes from Unsecured NCDs to Secured NCDs for both instruments
• ISINs are being revised: INE101Q08191 → INE101Q07BZ6 and INE101Q08209 → INE101Q07BY9
• This is a continuation of notice 20260330-46 dated March 30, 2026
• Trading members must update their systems to reflect the new ISINs and revised terms

Regulatory Changes

• The security classification for both scrip codes is upgraded from unsecured to secured NCD status
• New ISINs are assigned to reflect the revised terms:
  • Scrip Code 977583: Old ISIN INE101Q08191 → New ISIN INE101Q07BZ6
  • Scrip Code 977585: Old ISIN INE101Q08209 → New ISIN INE101Q07BY9

Compliance Requirements

• Trading members are required to note the revised terms and ensure trades from April 22, 2026 are executed under the new ISINs
• Members with queries are directed to contact Ms. Bhairavi Bondale at +91 22 2272 8844 or debt.listing@bseindia.com

Important Dates

• April 22, 2026: Effective date for trading with revised terms for both scrip codes
• April 21, 2026: Date of this notice
• March 30, 2026: Date of the original notice (20260330-46) this update continues from

Impact Assessment

The change from unsecured to secured NCD status is materially significant for existing and prospective holders of these instruments, as it improves the credit quality and recovery prospects of the securities. The ISIN revision requires trading systems to be updated to avoid settlement failures. The impact is limited to holders and traders of these two specific Muthoottu MCRED NCD series, with no broader market-wide implications.