Description

NSE announces listing of 8 State Development Loans and 3 Treasury Bills on capital market segment with effect from October 27, 2025.

Summary

NSE has notified the listing of 11 government securities on its capital market segment effective October 27, 2025. This includes 8 State Development Loans (SDLs) from Tamil Nadu, Chhattisgarh, Uttar Pradesh, Rajasthan, and Maharashtra with maturities ranging from 2032 to 2051, and 3 Treasury Bills with maturities in January, April, and October 2026. All securities will trade in lot sizes of 100 units.

Key Points

  • 8 State Development Loans (SDLs) admitted to trading with coupon rates ranging from 6.99% to 7.34%
  • 3 Treasury Bills (T-bills) with tenors of 91 days, 182 days, and 364 days admitted to trading
  • All securities designated with specific symbol codes for trading identification
  • Standard lot size of 100 units applicable for all listed securities
  • Securities from 5 states: Tamil Nadu (2 SDLs), Chhattisgarh (1), Uttar Pradesh (1), Rajasthan (2), and Maharashtra (2)

Regulatory Changes

No regulatory changes introduced. This circular is issued pursuant to existing Regulation 3.1.1 and Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A.

Compliance Requirements

  • Trading members must use designated security codes for trading these securities on the system
  • Trading must be conducted in specified lot sizes of 100 units as per the annexure
  • Securities available for trading only from the effective date of October 27, 2025

Important Dates

  • Circular Date: October 23, 2025
  • Effective Date: October 27, 2025
  • SDL Maturity Dates: Range from October 23, 2032 to October 23, 2051
  • T-bill Maturity Dates: January 23, 2026 (91D), April 24, 2026 (182D), October 23, 2026 (364D)

Impact Assessment

This is a routine administrative circular with minimal market impact. The listing of additional government securities provides more debt investment options but does not affect equity trading operations or impose new compliance burdens on members. The impact is limited to expanded product availability in the debt segment for institutional and retail investors seeking government-backed fixed income instruments.

Impact Justification

Routine listing of government securities with no material impact on equity markets or trading members beyond availability of additional debt instruments