Description

BSE Index Services announces constituent changes to the BSE 4-8 Year G-Sec Index effective April 30, 2026, replacing 7.26% GS 2033 with 7.18% GS 2033.

Summary

BSE Index Services Private Ltd. has announced a constituent change in the BSE 4-8 Year G-Sec Index, effective Thursday, April 30, 2026. One government security is being dropped and replaced with another of similar tenor. The BSE 8-13 Year G-Sec Index remains unchanged.

Key Points

  • The BSE 4-8 Year G-Sec Index will see one security added and one dropped effective April 30, 2026.
  • Added: IN0020220151 — 7.26% GS 2033 (Maturity: 06-Feb-2033)
  • Dropped: IN0020230085 — 7.18% GS 2033 (Maturity: 14-Aug-2033)
  • The BSE 8-13 Year G-Sec Index is unaffected and remains unchanged.
  • Queries should be directed to bseindex@bseindia.com.

Regulatory Changes

No regulatory changes. This is a routine periodic reconstitution of a fixed income index managed by BSE Index Services Private Ltd. (formerly Asia Index Pvt. Ltd.), a wholly owned subsidiary of BSE Ltd.

Compliance Requirements

No direct compliance obligations for listed companies or market participants. Fund managers, ETFs, or portfolios benchmarked against the BSE 4-8 Year G-Sec Index should rebalance their holdings to reflect the updated constituents by the effective date.

Important Dates

  • Notice Date: April 27, 2026
  • Effective Date: April 30, 2026 (Thursday)

Impact Assessment

Impact is limited to fund managers and institutional investors tracking or benchmarked against the BSE 4-8 Year G-Sec Index. The change involves swapping one G-Sec (7.18% GS 2033, maturing Aug 2033) for another (7.26% GS 2033, maturing Feb 2033), both within the 4-8 year maturity band. The coupon difference is minor (8 basis points) and both securities are sovereign instruments, so overall index risk profile remains broadly stable. No equity market or broader compliance impact is expected.

Impact Justification

Routine index reconstitution affecting a niche fixed income index; no equity market impact, no compliance obligations for listed companies, affects only index-tracking fund managers and related participants.