Description

BSE lists new debt securities including commercial paper from Navi Finserv Limited and debentures from Keertana Finserv Limited and CONMIN Projects India Private Limited on the debt market segment.

Summary

BSE has listed new privately placed debt securities on its debt segment effective January 6, 2026. The listing includes commercial paper from Navi Finserv Limited (200 units) and debentures from Keertana Finserv Limited (3,000 units) and CONMIN Projects India Private Limited (5,000 units). All securities will trade in dematerialized form only.

Key Points

  • Navi Finserv Limited commercial paper: 200 units of Rs. 5 lakhs face value, 9.45% p.a. interest, maturing April 6, 2026
  • Keertana Finserv Limited debentures: 3,000 units of Rs. 1 lakh face value, 11.30% p.a. interest with monthly payments, maturing January 23, 2027
  • CONMIN Projects India Private Limited debentures: 5,000 units of Rs. 1 lakh face value, 17.25% p.a. interest with quarterly payments, maturing September 30, 2030
  • All securities admitted to trading on BSE Debt Segment effective January 6, 2026
  • Trading only in dematerialized form under specified ISIN numbers
  • Commercial paper trading in standard denomination of Rs. 5 lakhs and multiples
  • Tick size: 1 paise for all securities

Regulatory Changes

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

Compliance Requirements

  • Trading members must trade these securities only in dematerialized form
  • Commercial paper (Navi Finserv) must be traded in standard denomination of Rs. 5 lakhs and multiples thereof
  • Trading members requiring clarification may contact BSE debt department on 22728352/8597/8995/5753/8915
  • For debenture details, refer to placement memorandum at https://www.bseindia.com/markets/debt/memorandum_data.aspx

Important Dates

  • Effective Date: January 6, 2026 (trading commencement)
  • Navi Finserv CP Allotment: January 5, 2026
  • Navi Finserv CP Redemption: April 6, 2026
  • Keertana Finserv Allotment: January 5, 2026
  • Keertana Finserv Interest Payments: Monthly from February 23, 2025 to January 23, 2027
  • Keertana Finserv Redemption: January 23, 2027
  • CONMIN Projects Allotment: January 5, 2026
  • CONMIN Projects Interest Payments: Quarterly from September 30, 2026 to September 30, 2030
  • CONMIN Projects Redemption: September 30, 2030

Impact Assessment

Market Impact: Low - affects only debt market participants and specific investors in these privately placed securities.

Operational Impact: Minimal - routine listing process for trading members dealing in debt instruments.

Credit Quality:

  • Navi Finserv CP rated CARE A1 (highest safety)
  • Keertana Finserv rated IND BBB+/Stable (adequate safety)
  • CONMIN Projects rated CARE B Stable (high credit risk)

Investor Considerations: The securities offer varying risk-return profiles with interest rates ranging from 9.45% to 17.25% p.a., reflecting their credit ratings. Higher yields on CONMIN Projects reflect higher credit risk (B rating).

Impact Justification

Routine listing notification for privately placed debt instruments affecting only specific debt market participants and investors in these securities