Description

BSE announces listing of two series of commercial paper issued by Manappuram Finance Limited with aggregate value of Rs. 500 crores on private placement basis.

Summary

BSE has listed two series of commercial paper issued by Manappuram Finance Limited on private placement basis, effective December 15, 2025. The first series (MFL-13-3-26-CP) consists of 6,000 units valued at Rs. 300 crores, while the second series (MFL-10-3-26-CP) comprises 4,000 units valued at Rs. 200 crores. Both instruments carry CARE A1+ and CRISIL A1+ credit ratings with Axis Bank Limited as the issuing and paying agent.

Key Points

  • Two new commercial paper series listed on BSE Debt segment with effect from December 15, 2025
  • Series 1 (Scrip Code: 729273, ISIN: INE522D14OJ4): 6,000 units of Rs. 5 lakhs each, total Rs. 300 crores
  • Series 2 (Scrip Code: 730766, ISIN: INE522D14PC6): 4,000 units of Rs. 5 lakhs each, total Rs. 200 crores
  • Both series rated CARE A1+ and CRISIL A1+ indicating highest credit quality for short-term instruments
  • Allotment date: December 12, 2025 for both series
  • Trading permitted only in dematerialized form
  • Standard denomination of Rs. 5 lakhs and multiples thereof
  • Tick size: 1 paise

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 the specified ISIN numbers
  • Trading must be conducted in standard denomination of Rs. 5 lakhs and multiples thereof
  • Trading members should contact BSE debt department (22728352/8597/8995/5753/8915) for any clarifications

Important Dates

  • Allotment Date (Both Series): December 12, 2025
  • Listing Date: December 15, 2025
  • Redemption Date (Series 1 - MFL-13-3-26-CP): March 13, 2026
  • Redemption Date (Series 2 - MFL-10-3-26-CP): March 10, 2026

Detailed Instrument Information

Series 1: MFL-13-3-26-CP

  • Scrip Code: 729273
  • Scrip ID: MFL250425
  • ISIN: INE522D14OJ4 (Further listing under same ISIN)
  • Quantity: 6,000 units
  • Face Value: Rs. 5,00,000 per unit
  • Issue Price: Rs. 4,91,484 per unit
  • Implied Discount Rate: Approximately 6.85% per annum for 91-day tenure
  • Market Lot: 1 unit
  • Tenure: 91 days (December 12, 2025 to March 13, 2026)

Series 2: MFL-10-3-26-CP

  • Scrip Code: 730766
  • Scrip ID: MFL121225
  • ISIN: INE522D14PC6
  • Quantity: 4,000 units
  • Face Value: Rs. 5,00,000 per unit
  • Issue Price: Rs. 4,91,760 per unit
  • Implied Discount Rate: Approximately 6.81% per annum for 88-day tenure
  • Market Lot: 1 unit
  • Tenure: 88 days (December 12, 2025 to March 10, 2026)

Common Features

  • Issuing & Paying Agent: Axis Bank Limited
  • Credit Ratings: CARE A1+, CRISIL A1+
  • Trading Mode: Dematerialized only
  • Standard Denomination: Rs. 5 lakhs and multiples

Impact Assessment

Market Impact: Minimal. This is a routine short-term debt issuance for working capital requirements. The commercial paper market facilitates corporate short-term funding without affecting equity markets.

Investor Impact: Relevant only for debt market participants and institutional investors seeking highly-rated short-term instruments. The A1+ rating from both CARE and CRISIL indicates strong credit quality and low default risk.

Company Impact: Provides Manappuram Finance Limited with short-term funding of Rs. 500 crores at competitive rates (approximately 6.8% per annum) for approximately 3-month tenure, supporting working capital and business operations.

Operational Impact: No impact on equity trading members. Debt segment trading members can facilitate transactions in these instruments for eligible investors.

Impact Justification

Routine commercial paper listing with no impact on equity trading or regulatory changes. Standard debt market activity for short-term funding.