Description

Two series of Commercial Paper totaling Rs. 650 crores issued by Manappuram Finance Limited listed on BSE Debt segment with redemption dates in March and December 2026.

Summary

Manappuram Finance Limited has listed two series of Commercial Paper on BSE Debt segment effective December 4, 2025. Series 1 comprises 5,500 units worth Rs. 275 crores with 12-month tenure, and Series 2 comprises 7,500 units worth Rs. 375 crores with 3-month tenure. Both instruments are rated CARE A1+ and CRISIL A1+ with Axis Bank as the Issuing and Paying Agent.

Key Points

  • Two Commercial Paper series listed with face value of Rs. 5,00,000 each
  • Series 1 (MFL031225): 5,500 units, issue price Rs. 4,64,425, redemption on December 3, 2026
  • Series 2 (MFL031225A): 7,500 units, issue price Rs. 4,91,727, redemption on March 2, 2026
  • Credit Rating: CARE A1+ and CRISIL A1+ for both series
  • Allotment date: December 3, 2025
  • Trading only in dematerialized form
  • Axis Bank appointed as Issuing and Paying Agent

Regulatory Changes

No regulatory changes introduced. This is a standard listing notification for debt securities.

Compliance Requirements

  • Trading members must trade these securities only in dematerialized form under specified ISIN numbers (INE522D14OZ0 and INE522D14PB8)
  • Trading must occur in standard denomination of Rs. 5 lakhs and multiples thereof
  • Tick size for the securities is 1 paise
  • Trading members can contact debt department at 22728352/8597/8995/5753/8915 for clarifications

Important Dates

  • Notice Date: December 4, 2025
  • Allotment Date: December 3, 2025
  • Listing Effective Date: December 4, 2025
  • Redemption Date (Series 1 - MFL031225): December 3, 2026
  • Redemption Date (Series 2 - MFL031225A): March 2, 2026

Impact Assessment

Market Impact: Minimal. This is a routine private placement listing of short-term debt instruments.

Operational Impact: Trading members can now trade these Commercial Paper instruments in the BSE Debt segment. The instruments provide short-term investment options with high credit ratings (A1+) for investors seeking exposure to Manappuram Finance Limited’s debt.

Investor Impact: Provides institutional and qualified investors with liquid, highly-rated short-term debt instruments from a financial services company. The differential pricing reflects the tenure difference - longer tenure (12 months) commands a deeper discount compared to shorter tenure (3 months).

Impact Justification

Routine listing of commercial paper on private placement basis with standard trading parameters and no market-wide implications