Description
BSE lists new privately placed commercial papers from five companies on its Debt Segment effective March 4, 2026, with trading in dematerialised form in standard denominations of Rs.5 Lakhs.
Summary
BSE Notice No. 20260304-3 informs trading members that new commercial papers issued on a private placement basis by five companies have been listed and admitted to trading on the BSE Debt Segment effective March 4, 2026. All securities are traded exclusively in dematerialised form in standard denominations of Rs. 5 Lakhs and multiples thereof, with a tick size of 1 paise.
Key Points
- Five companies have listed commercial papers: Credila Financial Services Limited, Manappuram Finance Limited (two tranches), Birla Group Holdings Private Limited, Network 18 Media & Investments Limited, and Muthoot Fincorp Limited
- All CPs are privately placed at Rs. 5,00,000 face value each
- Trading exclusively in demat form; standard denomination Rs. 5 Lakhs and multiples
- Tick size: 1 paise
- Interest payment structure: Cumulative for all issuances
- Contact for clarifications: BSE Debt Department — 22728352 / 8597 / 8995 / 5753 / 8915
Regulatory Changes
No new regulatory changes. This is a routine listing notification under existing BSE Debt Segment framework for privately placed commercial papers.
Compliance Requirements
- Trading members must ensure all transactions in these securities are conducted in dematerialised form only
- Trades must be in standard denomination of Rs. 5 Lakhs and multiples thereof
- Members should reference the respective ISIN numbers for each scrip when executing trades
Important Dates
| Company | Allotment Date | Redemption Date | Interest Rate |
|---|---|---|---|
| Credila Financial Services Ltd (CFSL-01-03-27-CP, INE539K14BZ6) | 02/03/2026 | 01/03/2027 | 7.99% p.a. |
| Manappuram Finance Ltd (MFL-1-6-26-CP, INE522D14PG7) | 02/03/2026 | 01/06/2026 | 7.90% p.a. |
| Manappuram Finance Ltd (MFL-3-6-26-CP, INE522D14PF9) | 04/03/2026 | 03/06/2026 | 7.90% p.a. |
| Birla Group Holdings Pvt Ltd (BGHPL-4-3-27-CP, INE09OL14IT4) | 04/03/2026 | 04/03/2027 | 7.55% p.a. |
| Network 18 Media & Investments Ltd (N18MIL-03-06-26-CP, INE870H14WU8) | 04/03/2026 | 03/06/2026 | 7.10% p.a. |
Impact Assessment
This is a standard operational listing circular with moderate impact on debt market participants. The listings expand the tradeable universe of short-term debt instruments on BSE’s Debt Segment. Key observations:
- Credila Financial Services (Scrip Code 731224): 8,000 units at issue price Rs. 4,63,099.50; rated CRISIL A1+/ICRA A1+; ~1-year tenor via Axis Bank
- Manappuram Finance (Scrip Codes 731231 & 731233): Two tranches totalling 7,500 units at Rs. 4,90,342.50; rated CARE A1+/CRISIL A1+; ~3-month tenor via Axis Bank
- Birla Group Holdings (Scrip Code 731232): 1,500 units at Rs. 4,64,900.00; rated CRISIL A1+/ICRA A1+; ~1-year tenor via Axis Bank
- Network 18 Media (Scrip Code 731234): 4,000 units at Rs. 4,91,303.50; rated CARE A1+/IND A1+; ~3-month tenor via ICICI Bank
- All issuers carry top-tier A1+ short-term credit ratings, indicating very low credit risk
- Relevant primarily to institutional investors and debt market trading members
Impact Justification
Routine private placement commercial paper listings on BSE Debt Segment; relevant to debt market participants and investors in these specific issuers but no broad market regulatory change.