Description
NSE admits multiple commercial papers and debentures from various companies including Tata Capital Housing Finance, Mahindra & Mahindra Financial Services, L&T Finance, and others to trading on the debt market segment effective October 16, 2025.
Summary
NSE notifies the listing of privately placed securities on the debt market segment effective October 16, 2025, pursuant to Regulation 3.1.1 of the NSE Debt Market Trading Regulations. The circular covers fresh issues of commercial papers from 8 companies and debentures from 2 companies, with securities allocated unique ISINs and security codes for trading purposes.
Key Points
- 8 commercial paper issues listed from major financial services and industrial companies
- 2 debenture issues listed with tenor ranging from 3 to 5 years
- All securities admitted to dealings on debt market segment with effect from October 16, 2025
- Commercial papers have tenures ranging from 32 days to 152 days
- Face value of Rs. 5,00,000 per unit for all commercial papers listed
- Debentures include call option features for early redemption
Securities Listed
Commercial Papers:
- Tata Capital Housing Finance Limited - Rs. 100 crore, maturity Jan 14, 2026 (ISIN: INE033L14OJ5)
- Mahindra & Mahindra Financial Services Limited - Rs. 100 crore, maturity Mar 20, 2026 (ISIN: INE774D14TE1)
- L&T Finance Limited - Rs. 100 crore, maturity Jan 28, 2026 (ISIN: INE498L14EX2)
- Minda Corporation Limited (Issue 1) - Rs. 100 crore, maturity Mar 03, 2026 (ISIN: INE842C14180)
- Afcons Infrastructure Limited - Rs. 55 crore, maturity Mar 16, 2026 (ISIN: INE101I14ER0)
- Alembic Pharmaceuticals Limited - Rs. 150 crore, maturity Jan 12, 2026 (ISIN: INE901L14BX1)
- Minda Corporation Limited (Issue 2) - Rs. 100 crore, maturity Mar 06, 2026 (ISIN: INE842C14172)
- HDFC Securities Limited - Rs. 475 crore, maturity Nov 17, 2025 (ISIN: INE700G14QN6)
Debentures:
- SMFG India Home Finance Company Limited - 7.30% 2028 PP Sr 32, Rs. 600 crore, maturity Oct 13, 2028 with call option on Oct 14, 2027 (ISIN: INE213W07343)
- Cholamandalam Investment and Finance Company Limited - 7.58% 2030 Sr 655, maturity 2030 (partial details provided)
Regulatory Changes
No regulatory changes announced. This is a routine listing notification under existing NSE Debt Market Trading Regulations.
Compliance Requirements
- Members must use designated security codes and ISINs for trading these securities
- Securities are admitted to dealings on the debt market segment only
- Trading participants must comply with Regulation 3.1.1 of NSE Debt Market Trading Regulations
Important Dates
- Effective Date: October 16, 2025
- Allotment Dates: October 15-16, 2025
- Redemption Dates: Range from November 17, 2025 to October 13, 2028
- Call Option Date (SMFG India): October 14, 2027
Impact Assessment
Minimal market-wide impact. This is a standard administrative notification informing market participants about newly listed debt instruments. The listing enhances liquidity options for institutional investors in the debt market and provides funding avenues for the issuer companies. No changes to trading rules, margins, or surveillance measures.
Impact Justification
Routine administrative listing notification for privately placed debt securities. No regulatory changes or market-wide impact. Relevant primarily for debt market participants and the specific issuers.