Description
NSE circular notifying the listing of various commercial papers and perpetual debt securities on the debt market segment with effect from November 26, 2025.
Summary
NSE has admitted various privately placed debt securities to trading on its Debt Market Segment effective November 26, 2025. The circular lists 9 commercial papers from companies including Aditya Birla Money, HSBC Investdirect, SIDBI, Godrej Industries, Godrej Properties, Toyota Financial Services, Aseem Infrastructure Finance, Barclays Investments, and HDFC Securities. Additionally, at least one perpetual debt security from Aditya Birla Capital Limited (8.3765% Perpetual Sr PH1) is mentioned. All securities have been assigned designated security codes and ISINs.
Key Points
- 9 commercial papers listed with redemption dates ranging from February 24, 2026 to April 24, 2026
- Face value of all commercial papers is ₹5,00,000 per unit
- Issue prices range from ₹4,87,186.5 to ₹4,92,631 per unit (implicit discount structure)
- Total quantity of commercial papers: 111,000 units across all issuers
- Largest issuer by quantity: SIDBI with 85,000 units
- Allotment dates: November 25-26, 2025
- Securities admitted under Regulation 3.1.1 of NSE Debt Market (Trading) Regulations
- At least one perpetual debt security from Aditya Birla Capital also listed
Regulatory Changes
No regulatory changes introduced. This is a routine notification of securities admitted to trading under existing NSE Debt Market (Trading) Regulations.
Compliance Requirements
No new compliance requirements. Standard debt market segment trading rules apply to these listed securities.
Important Dates
- Effective Date of Listing: November 26, 2025
- Allotment Dates: November 25-26, 2025
- Redemption Dates:
- February 24, 2026: Aditya Birla Money, HSBC Investdirect, Godrej Industries, Godrej Properties, Barclays Investments
- February 25, 2026: HDFC Securities
- March 23, 2026: Aseem Infrastructure Finance
- April 24, 2026: Toyota Financial Services
- Perpetual: Aditya Birla Capital (no maturity date)
Impact Assessment
Market Impact: Low - This is a routine listing notification for privately placed debt securities. These listings provide institutional investors with additional short-term debt instruments for portfolio diversification.
Issuer Impact: Neutral - Enables secondary market trading for privately placed securities, potentially improving liquidity for investors.
Investor Impact: Low - Provides trading opportunities for institutional investors holding these privately placed securities. The commercial papers offer tenors of 3-5 months with implicit yields based on discount pricing.
Operational Impact: None - No changes to trading systems or procedures required.
Impact Justification
Routine notification of privately placed debt securities listing. No regulatory changes or compliance requirements for market participants beyond standard listing procedures.