Description
BSE lists newly issued commercial papers of SBICAP Securities, Fedbank Financial Services, Reliance Retail Ventures, and Navi Finserv on its Debt Segment effective February 23, 2026. Securities are admitted to trading in dematerialised form with a standard denomination of Rs. 5 Lakhs.
Summary
BSE has listed and admitted to trading five privately placed Commercial Papers (CPs) on the BSE Debt Segment effective February 23, 2026. The issuers are SBICAP Securities Limited (2 CPs), Fedbank Financial Services Limited (1 CP), Reliance Retail Ventures Limited (1 CP), and Navi Finserv Limited (1 CP). All securities are allotted on a private placement basis and trade exclusively in dematerialised form with a standard lot of Rs. 5 Lakhs and a tick size of 1 paise.
Key Points
- Five new Commercial Papers listed on BSE Debt Segment effective February 23, 2026
- All securities trade only in demat form under their respective ISIN numbers
- Standard denomination: Rs. 5 Lakhs and multiples thereof; tick size: 1 paise
- SBICAP Securities Limited: 2 CPs (Scrip Codes 731151 and 731152) rated CRISIL A1+ and ICRA A1+
- Fedbank Financial Services Limited: 1 CP (Scrip Code 731156) rated CRISIL A1+ and ICRA A1+; redeemable February 18, 2027
- Reliance Retail Ventures Limited: 1 CP (Scrip Code 731157), quantity 35,000 units, rated CARE A1+ and CRISIL A1+
- Navi Finserv Limited: 1 CP (Scrip Code 731158), rated CARE A1+; interest rate 8.50% p.a.
- All CPs allotted on February 20, 2026 on a deemed/actual basis
Regulatory Changes
No regulatory changes. This is a standard listing notification under BSE’s debt market segment admission procedures for privately placed securities.
Compliance Requirements
- Trading members must ensure all transactions in these securities are conducted only in dematerialised form
- Trades must be in standard denominations of Rs. 5 Lakhs and multiples thereof
- Members requiring clarification may contact the BSE Debt Department at 22728352 / 8597 / 8995 / 5753 / 8915
Important Dates
| Scrip Code | Issuer | Allotment Date | Redemption Date | Interest Rate |
|---|---|---|---|---|
| 731151 (SBISL20226) | SBICAP Securities Ltd | 20-Feb-2026 | 22-May-2026 | 7.46% p.a. |
| 731152 (SBICA20226) | SBICAP Securities Ltd | 20-Feb-2026 | 06-May-2026 | 7.50% p.a. |
| 731156 (FFSL20226) | Fedbank Financial Services Ltd | 20-Feb-2026 | 18-Feb-2027 | 7.72% p.a. |
| 731157 (RRVL200226) | Reliance Retail Ventures Ltd | 20-Feb-2026 | 22-May-2026 | 7.09% p.a. |
| 731158 (NFL200226) | Navi Finserv Ltd | 20-Feb-2026 | 21-May-2026 | 8.50% p.a. |
Impact Assessment
Low market impact. This is a routine operational circular notifying trading members of new debt instrument listings. The listings expand the available instruments on the BSE Debt Segment but carry no direct implications for equity market participants. The high credit ratings (A1+ across all issuers) indicate minimal credit risk. Navi Finserv’s relatively higher rate of 8.50% p.a. compared to the others (7.09%–7.72%) may reflect a minor risk premium for that issuer. The Reliance Retail Ventures CP is the largest by quantity (35,000 units), implying a notional issuance size of approximately Rs. 1,750 crore.
Impact Justification
Routine administrative circular notifying trading members of new commercial paper listings on the BSE Debt Segment; no regulatory changes or compliance obligations for equity market participants.