Description

NSE admits 16 new government securities including T-bills and SDLs from various states for trading on the capital market segment effective November 21, 2025.

Summary

NSE has notified the listing of 16 government securities on the capital market segment effective November 21, 2025. The securities include 13 State Development Loans (SDLs) from Tamil Nadu, Uttar Pradesh, Telangana, Rajasthan, Arunachal Pradesh, Gujarat, and Himachal Pradesh, along with 3 Treasury Bills (T-bills) issued by the Government of India. All securities will trade in lot sizes of 100 units.

Key Points

  • 13 State Development Loans (SDLs) from 7 different states admitted for trading
  • 3 Treasury Bills (T-bills) with tenures of 91, 182, and 364 days
  • Coupon rates on SDLs range from 6.55% to 7.5%
  • Maturity dates span from February 2026 to November 2052
  • Standard lot size of 100 units applicable to all securities
  • Trading identifiable through designated security codes and ISIN numbers
  • Circular issued under Capital Market Trading Regulations Part A (Regulation 3.1.1 and 2.5.5)

Regulatory Changes

No regulatory changes introduced. This is a standard listing notification pursuant to existing NSE Capital Market Trading Regulations.

Compliance Requirements

  • Members must use designated security codes for trading these instruments
  • Trading must be conducted in specified lot sizes (100 units for all listed securities)
  • Securities to be identified only by their designated codes on the trading system

Important Dates

  • Circular Date: November 19, 2025
  • Effective Date: November 21, 2025
  • T-bill Maturities: February 18, 2026 / May 20, 2026 / November 18, 2026
  • SDL Maturities: Range from November 19, 2029 to November 19, 2052

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 enhances liquidity in the debt market segment. No direct impact on equity markets or corporate activities. The securities offer coupon rates between 6.55% and 7.5%, providing yield opportunities across various maturity profiles.

Impact Justification

Routine listing of government securities with no direct impact on equity markets or corporate entities. Standard administrative circular for debt instruments.