Description
BSE lists new commercial paper securities issued on private placement basis by Credila Financial Services, Manappuram Finance, Birla Group Holdings, Network 18 Media, and Muthoot Fincorp on the debt market segment effective March 4, 2026.
Summary
BSE Notice No. 20260304-3 informs trading members that new securities issued on a private placement basis have been listed and admitted to trading on the BSE Debt Segment effective March 4, 2026. The listing covers commercial paper instruments from five issuers: Credila Financial Services Limited, Manappuram Finance Limited (two tranches), Birla Group Holdings Private Limited, Network 18 Media & Investments Limited, and Muthoot Fincorp Limited.
Key Points
- All securities are traded exclusively in dematerialised form under their respective ISIN numbers
- Standard trading denomination is Rs. 5 Lakhs and multiples thereof
- Tick size for all securities is 1 paise
- All instruments are commercial papers issued on a private placement basis with face value of Rs. 5,00,000 each
- Interest payment is cumulative for all instruments
- Contact: BSE Debt Department at 22728352/8597/8995/5753/8915
Security Details
| Issuer | Scrip Code | ISIN | Qty | Issue Price (Rs.) | Rate | Redemption Date |
|---|---|---|---|---|---|---|
| Credila Financial Services Ltd | 731224 | INE539K14BZ6 | 8,000 | 4,63,099.50 | 7.99% p.a. | 01/03/2027 |
| Manappuram Finance Ltd (Tranche 1) | 731231 | INE522D14PG7 | 5,500 | 4,90,342.50 | 7.90% p.a. | 01/06/2026 |
| Manappuram Finance Ltd (Tranche 2) | 731233 | INE522D14PF9 | 2,000 | 4,90,342.50 | 7.90% p.a. | 03/06/2026 |
| Birla Group Holdings Pvt Ltd | 731232 | INE09OL14IT4 | 1,500 | 4,64,900.00 | 7.55% p.a. | 04/03/2027 |
| Network 18 Media & Investments Ltd | 731234 | INE870H14WU8 | 4,000 | 4,91,303.50 | 7.10% p.a. | 03/06/2026 |
Credit Ratings
- Credila Financial Services Ltd: CRISIL A1+, ICRA A1+
- Manappuram Finance Ltd: CARE A1+, CRISIL A1+
- Birla Group Holdings Pvt Ltd: CRISIL A1+, ICRA A1+
- Network 18 Media & Investments Ltd: CARE A1+, IND A1+
- All instruments carry the highest short-term credit ratings, indicating minimal credit risk
Regulatory Changes
No regulatory changes introduced. This is a routine operational notice for the admission of new debt securities to trading on BSE’s Debt Segment under existing private placement listing framework.
Compliance Requirements
- Trading members must trade these securities only in dematerialised form
- Minimum trade size is Rs. 5 Lakhs (standard denomination); trades must be in multiples thereof
- Trading members requiring clarification must contact the BSE Debt Department directly
Important Dates
- Effective Date of Trading: March 4, 2026
- Allotment Dates: March 2, 2026 (Credila, Manappuram Tranche 1) and March 4, 2026 (Manappuram Tranche 2, Birla Group, Network 18)
- Short-term Redemptions (June 2026): Manappuram Finance (01/06/2026 & 03/06/2026), Network 18 (03/06/2026)
- Long-term Redemptions (March 2027): Credila Financial Services (01/03/2027), Birla Group Holdings (04/03/2027)
Impact Assessment
This listing expands the BSE Debt Segment with five commercial paper instruments from well-rated issuers. All carry top-tier short-term credit ratings (A1+), indicating high creditworthiness and low default risk. The instruments offer competitive yields ranging from 7.10% to 7.99% p.a., reflecting current market rates for high-grade commercial paper. Debt market participants and institutional investors now have additional short-to-medium term investment options. No adverse market impact is anticipated.
Impact Justification
Routine listing of privately placed commercial paper on BSE debt segment; affects debt market participants and specific issuers but no broader market disruption expected.