Description

NSE lists 12 State Development Loans and 3 Treasury Bills for trading on the capital market segment effective November 14, 2025.

Summary

NSE has admitted 12 State Development Loans (SDLs) and 3 Treasury Bills (T-bills) for trading on the capital market segment effective November 14, 2025. The circular specifies the security codes, ISIN codes, coupon rates, maturity dates, and lot sizes for each instrument.

Key Points

  • 12 SDLs from various states (Madhya Pradesh, Bihar, Jammu & Kashmir, Maharashtra, Telangana, Tamil Nadu, Mizoram, Uttar Pradesh) admitted for trading
  • 3 Treasury Bills with tenors of 91 days, 182 days, and 364 days listed
  • All securities will have a uniform lot size of 100 units
  • Trading will commence on November 14, 2025
  • Securities will be identified by their designated codes on the trading system
  • SDLs have coupon rates ranging from 7.01% to 7.46%
  • SDL maturity dates span from 2032 to 2056

State Development Loans Listed

  1. SDL MP 7.45% 2041 - Madhya Pradesh, ISIN: IN2120250229
  2. SDL BR 7.44% 2040 - Bihar, ISIN: IN1320250179
  3. SDL MP 7.46% 2043 - Madhya Pradesh, ISIN: IN2120250237
  4. SDL JK 7.46% 2045 - Jammu & Kashmir, ISIN: IN4920250177
  5. SDL MP 7.45% 2044 - Madhya Pradesh, ISIN: IN2120250245
  6. SDL MH 7.07% 2033 - Maharashtra, ISIN: IN2220250368
  7. SDL TS 7.44% 2056 - Telangana, ISIN: IN4520250494
  8. SDL TN 7.01% 2032 - Tamil Nadu, ISIN: IN3120250375
  9. SDL MZ 7.14% 2033 - Mizoram, ISIN: IN2520250068
  10. SDL UP 7.24% 2036 - Uttar Pradesh, ISIN: IN3320250092
  11. SDL UP 7.02% 2032 - Uttar Pradesh, ISIN: IN3320250084
  12. SDL MH 7.25% 2037 - Maharashtra, ISIN: IN2220250376

Treasury Bills Listed

  1. 91D120226 - GOI TBILL 91D, Maturity: February 12, 2026, ISIN: IN002025X331
  2. 182D140526 - GOI TBILL 182D, Maturity: May 14, 2026, ISIN: IN002025Y339
  3. 364D121126 - GOI TBILL 364D, Maturity: November 12, 2026, ISIN: IN002025Z336

Regulatory Changes

No regulatory changes. This is a routine notification under Regulation 3.1.1 and Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A.

Compliance Requirements

  • Members must use the designated security codes for trading these instruments
  • Trading must be conducted in the specified lot sizes of 100 units
  • All securities will trade in the SG (Government Securities) and TB (Treasury Bills) market segments

Important Dates

  • Circular Date: November 12, 2025
  • Effective Date: November 14, 2025

Impact Assessment

This is a routine administrative circular with minimal market impact. The listing of government securities provides additional investment options for institutional investors and debt market participants. The uniform lot size of 100 units ensures standardized trading. No impact on equity markets or specific companies.

Impact Justification

Routine listing of government securities with standard lot sizes. No impact on equity markets or specific companies.