Description

NSE notifies the listing of privately placed commercial papers and debt securities from multiple issuers including EXIM Bank, IIFL Capital, Godrej Properties, Power Finance Corporation, and others, effective November 28, 2025.

Summary

NSE has admitted privately placed debt securities to trading on its Debt Market Segment effective November 28, 2025. The circular lists 9 new debt instruments including 5 commercial papers and 4 other debt securities (bonds/debentures) from various issuers. Commercial papers are short-term instruments maturing between February-May 2026, while bonds have longer tenures ranging from 2027 to 2035.

Key Points

  • 5 Commercial Papers listed:

    • Export Import Bank of India: ₹250 crore CP maturing Feb 26, 2026
    • IIFL Capital Services: ₹100 crore CP maturing May 26, 2026
    • Godrej Properties: ₹75 crore CP maturing Feb 26, 2026
    • Aseem Infrastructure Finance: ₹200 crore CP maturing Feb 26, 2026
    • SRF Limited: ₹200 crore CP maturing Feb 27, 2026

  • 4 Bonds/Debentures listed:

    • Power Finance Corporation: ₹3,000 crore, 7.08% bonds maturing Nov 27, 2035
    • Vedika Credit Capital: ₹20 crore, 11.5% debentures maturing May 27, 2028
    • Vedika Credit Capital: ₹30 crore, 11% debentures maturing May 27, 2027
    • Small Industries Development Bank of India: ₹59.35 crore, 6.74% bonds maturing 2029

  • All securities are privately placed instruments

  • Listing effective from November 28, 2025

  • Each security assigned unique ISIN codes for trading

Regulatory Changes

No regulatory changes introduced. This is a routine listing notification pursuant to Regulation 3.1.1 of the National Stock Exchange Debt Market (Trading) Regulations.

Compliance Requirements

No new compliance requirements for market participants. The listed issuers must comply with standard NSE debt market listing obligations and disclosure requirements applicable to privately placed securities.

Important Dates

  • Listing Effective Date: November 28, 2025
  • Allotment Dates: November 27-28, 2025
  • Commercial Paper Maturities:
    • February 26, 2026 (EXIM, Godrej Properties, Aseem Infrastructure)
    • February 27, 2026 (SRF Limited)
    • May 26, 2026 (IIFL Capital)
  • Bond/Debenture Maturities:
    • May 27, 2027 (Vedika Credit Capital 11%)
    • May 27, 2028 (Vedika Credit Capital 11.5%)
    • 2029 (SIDBI)
    • November 27, 2035 (Power Finance Corporation)

Impact Assessment

Market Impact: Minimal. This is a routine administrative notification providing transparency on newly listed debt instruments. The listing enables secondary market trading of these privately placed securities on NSE’s debt platform.

Investor Impact: Provides institutional investors and eligible participants access to trade these debt instruments on the exchange platform. The mix of short-term commercial papers (3-6 months) and long-term bonds (2-10 years) offers varied maturity profiles.

Issuer Profile: Mix of public sector financial institutions (EXIM Bank, PFC, SIDBI), established corporates (SRF, Godrej Properties), and private financial services companies (IIFL, Vedika Credit Capital, Aseem Infrastructure Finance). Coupon rates range from 6.74% to 11.5%, reflecting varying credit profiles and tenures.

Impact Justification

Routine listing notification for privately placed debt securities. Informational in nature with no regulatory changes or compliance requirements for market participants beyond the issuing companies.