Description

BSE announces listing of commercial papers from Time Technoplast, Muthoot Capital Services, Avanse Financial Services, HT Media, Infina Finance, and Bharat Heavy Electricals on debt market segment effective December 26, 2025.

Summary

BSE has listed commercial papers issued on private placement basis by six companies on its debt market segment effective December 26, 2025. The securities include CPs from Time Technoplast Limited, Muthoot Capital Services Ltd, Avanse Financial Services Limited, HT Media Ltd, Infina Finance Private Limited, and Bharat Heavy Electricals Ltd. All securities will trade in dematerialized form only with standard denomination of Rs. 5 lakhs and multiples thereof.

Key Points

  • Six companies’ commercial papers listed on BSE debt segment
  • Trading only in dematerialized form under specified ISIN numbers
  • Standard denomination: Rs. 5 lakhs and multiples thereof
  • Tick size: 1 paise
  • Interest rates range from 6.48% to 8.85% p.a.
  • Maturity periods range from 3 to 6 months
  • All CPs carry CRISIL A1+ and/or ICRA A1+ credit ratings

Detailed Listings

Time Technoplast Limited

  • Scrip Code: 730854 (TTL261225)
  • ISIN: INE508G14ID1
  • Quantity: 1,500 units
  • Face Value: Rs. 5,00,000
  • Issue Price: Rs. 4,81,840.50
  • Interest Rate: 7.60% p.a.
  • Allotment Date: December 26, 2025
  • Redemption Date: June 25, 2026
  • Credit Rating: CRISIL A1+, ICRA A1+
  • Issuing Agent: IDBI Bank Limited

Muthoot Capital Services Ltd

  • Scrip Code: 730855 (MCSL241225)
  • ISIN: INE296G14610
  • Quantity: 500 units
  • Face Value: Rs. 5,00,000
  • Issue Price: Rs. 4,82,227.50
  • Interest Rate: 8.85% p.a.
  • Allotment Date: December 24, 2025
  • Redemption Date: May 25, 2026
  • Credit Rating: CRISIL A1+
  • Issuing Agent: IndusInd Bank Limited

Avanse Financial Services Limited

  • Scrip Code: 730856 (AFSL241225)
  • ISIN: INE087P14788
  • Quantity: 1,200 units
  • Face Value: Rs. 5,00,000
  • Issue Price: Rs. 4,90,551.00
  • Interest Rate: 8.37% p.a.
  • Allotment Date: December 24, 2025
  • Redemption Date: March 18, 2026
  • Credit Rating: CRISIL A1+
  • Issuing Agent: Axis Bank Limited

HT Media Ltd

  • Scrip Code: 730857 (HTML241225)
  • ISIN: INE501G14EN4
  • Quantity: 1,000 units
  • Face Value: Rs. 5,00,000
  • Issue Price: Rs. 4,92,481.00
  • Interest Rate: 6.48% p.a.
  • Allotment Date: December 24, 2025
  • Redemption Date: March 20, 2026
  • Credit Rating: CRISIL A1+, ICRA A1+
  • Issuing Agent: HDFC Bank Limited

Infina Finance Private Limited

  • Scrip Code: 730852 (IFPL241225)
  • ISIN: INE879F14MH1
  • Quantity: 2,000 units
  • Face Value: Rs. 5,00,000
  • Issue Price: Rs. 4,91,688.50
  • Interest Rate: 6.78% p.a.
  • Allotment Date: December 24, 2025
  • Redemption Date: March 25, 2026
  • Credit Rating: CRISIL A1+, ICRA A1+
  • Issuing Agent: Kotak Mahindra Bank Limited

Bharat Heavy Electricals Ltd

  • Scrip Code: Listed (details truncated in source)
  • Commercial Paper issued on private placement basis

Regulatory Changes

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

Compliance Requirements

  • Trading members must trade these securities only in dematerialized form
  • Transactions must be in standard denomination of Rs. 5 lakhs and multiples thereof
  • Market lot size is 1 unit for all listed CPs
  • Tick size of 1 paise must be observed

Important Dates

  • Effective Date: December 26, 2025
  • Allotment Dates: December 24-26, 2025 (varies by issuer)
  • Redemption Dates: March 18 - June 25, 2026 (varies by issuer)

Impact Assessment

This circular has minimal market impact as it represents routine administrative notification of debt securities listing. Impact is limited to:

  • Debt market participants and institutional investors trading commercial papers
  • Provides additional short-term investment options for treasury operations
  • All issuers carry strong credit ratings (A1+), indicating minimal credit risk
  • Trading members requiring clarification can contact BSE debt department at specified phone numbers (22728352/8597/8995/5753/8915)

Contact Information

Issued by: Hardik Bhuta, Assistant Vice President, BSE

For Clarifications: BSE Debt Department - 22728352/8597/8995/5753/8915

Impact Justification

Routine listing notification for privately placed commercial papers on debt segment; impacts only debt market participants trading these specific instruments