Description

NSE admits multiple commercial papers and debt securities from companies including IIFL Finance, Cholamandalam, Kotak Securities, L&T Finance, and others to debt market trading with effect from November 27, 2025.

Summary

NSE has admitted multiple privately placed securities to dealings on its Debt Market Segment effective November 27, 2025. The circular lists commercial papers (CPs) issued by 8 companies and debt securities (debentures) from 2 companies, with ISINs, face values, issue prices, allotment dates, and redemption dates specified.

Key Points

  • 8 Commercial Paper issues listed from companies including IIFL Finance (2 series), Cholamandalam Investment, Kotak Securities, L&T Finance, HSBC Investdirect, Ramco Cements, and Aditya Birla Money
  • 2 Debt Security issues listed from Cholamandalam Investment (8.40% 2032 Sr SD 78) and Sundaram Finance (7.05% series - details truncated)
  • All securities admitted under Regulation 3.1.1 of NSE Debt Market (Trading) Regulations
  • Total CP quantity ranges from 108 units (IIFL CP Sr 2559) to 10,000 units (CIAFCL and LTFL)
  • Face value for all CPs is ₹5,00,000 per unit
  • CP tenures range from 30 days (Ramco Cements) to 365 days (IIFL Finance Sr 2559)
  • Debt securities include 7-year tenure debenture from Cholamandalam with 8.40% coupon rate

Regulatory Changes

No regulatory changes. This is a routine notification under existing NSE Debt Market Trading Regulations.

Compliance Requirements

No new compliance requirements. Standard listing admission process for privately placed debt securities.

Important Dates

  • Effective Date: November 27, 2025
  • Allotment Dates: November 26-27, 2025
  • CP Redemption Dates: Range from December 26, 2025 (Ramco Cements) to November 25, 2026 (IIFL Finance Sr 2559)
  • Debenture Redemption Date: November 25, 2032 (Cholamandalam 8.40% Sr SD 78)

Impact Assessment

Market Impact: Minimal. Routine listing of debt instruments providing additional investment options in the debt market segment.

Operational Impact: No impact on trading members or market participants beyond standard debt market trading operations.

Issuer Details:

  • IIFL Finance: 2 CP series totaling 608 units worth ₹304 crores
  • Cholamandalam Investment: 10,000 CP units (₹5,000 crores) plus 50,000 debenture units (₹5,000 crores)
  • L&T Finance: 10,000 CP units (₹5,000 crores)
  • Kotak Securities: 5,000 CP units (₹2,500 crores)
  • Other issuers: Smaller CP issues ranging from 1,000 to 2,000 units

Impact Justification

Routine listing notification for privately placed debt securities. Standard operational circular with no regulatory changes or compliance requirements for market participants.