Description
NSE admits two new debt securities (bonds) issued by Surat Municipal Corporation to trading on the Debt Segment, effective October 15, 2025.
Summary
National Stock Exchange of India has admitted two new debt securities issued by Surat Municipal Corporation for trading on the Debt Segment. Both securities are fixed-rate bonds with 8% coupon, rated CRISIL AA, with maturity dates in 2029 and 2030 respectively. The securities will be available for trading effective October 15, 2025.
Key Points
- Two new municipal bonds admitted to NSE Debt Segment
- Issuer: Surat Municipal Corporation
- Both securities have issue date of October 13, 2025
- Issue size: Rs. 100 crore each (Rs. 10,000 lakhs)
- Face value: Rs. 500 per bond
- Credit rating: CRISIL AA for both securities
- Coupon rate: 8% fixed for both bonds
- Coupon frequency: Periodic
- Securities symbols: SMC29 (maturing 2029) and SMC30 (maturing 2030)
Regulatory Changes
No regulatory changes. This is a standard listing notification under existing framework referenced in circular NSE/CML/23366 dated May 8, 2013 and NSE/DS/24832 dated October 25, 2013.
Compliance Requirements
No specific compliance requirements for members. Standard debt segment trading rules apply.
Important Dates
- Circular Date: October 14, 2025
- Effective Date: October 15, 2025
- Issue Date: October 13, 2025
- First Interest Payment: April 12, 2026
- Next Interest Payment: April 13, 2026
- Maturity Dates:
- SMC29: October 13, 2029
- SMC30: October 13, 2030
Impact Assessment
Minimal market impact. This is a routine listing of municipal bonds that provides additional fixed-income investment options for institutional and retail investors. The securities add liquidity to the municipal bond market segment. Rating of CRISIL AA indicates strong creditworthiness of Surat Municipal Corporation.
Security Details
| Parameter | SMC29 | SMC30 |
|---|---|---|
| ISIN | INE05NX24023 | INE05NX24031 |
| Symbol | SMC29RDNGMT13102025T1 | SMC30RDNGMT13102025T1 |
| Maturity | October 13, 2029 | October 13, 2030 |
| Issued Capital | Rs. 100 crore | Rs. 100 crore |
| Face Value | Rs. 500 | Rs. 500 |
| Coupon Rate | 8% | 8% |
| Tick Size | 0.01 | 0.01 |
Impact Justification
Routine listing of municipal bonds on debt segment with limited impact on broader market participants