Description

NSE admits 14 debt securities (bonds) issued by Power Finance Corporation Limited to trading on the Debt Segment, effective February 5, 2026.

Summary

National Stock Exchange has admitted 14 debt securities issued by Power Finance Corporation Limited (PFC) for trading on the Debt Segment. These include bonds with maturities ranging from 5 to 15 years (2031, 2036, and 2041), carrying fixed coupon rates between 6.85% and 7.30%. The securities will be available for trading from February 5, 2026.

Key Points

  • 14 debt securities of Power Finance Corporation Limited admitted to NSE Debt Segment
  • Securities have staggered maturities: February 2031, February/March 2036, and February 2041
  • Fixed coupon rates ranging from 6.85% to 7.30% per annum
  • Face value of Rs. 1,000 per bond for all securities
  • Total issued capital varies from Rs. 1.08 crores to Rs. 2,635.41 crores across different tranches
  • All securities carry CRISIL credit rating
  • Periodic coupon payment frequency with next interest payment due February 3, 2027
  • Three tranches with zero coupon rates (likely zero-coupon bonds)

Regulatory Changes

No regulatory changes. This is a routine listing notification under existing NSE debt segment listing framework referenced in circular NSE/CML/23366 dated May 8, 2013 and NSE/DS/24832 dated October 25, 2013.

Compliance Requirements

  • NSE members should update their systems to reflect the newly listed debt securities
  • Trading members dealing in debt segment must ensure proper setup for these securities in their trading terminals
  • Standard debt segment trading rules and compliance requirements apply

Important Dates

  • Circular Date: February 4, 2026
  • Effective Date: February 5, 2026 (trading commencement)
  • Issue Date: February 3, 2026 (all securities)
  • Next Interest Payment: February 3, 2027 (for 11 out of 14 securities)
  • Maturity Dates:
    • February 3, 2031 (3 securities)
    • February 2, 2036 (3 securities)
    • March 3, 2036 (3 securities)
    • February 2, 2041 (5 securities)

Impact Assessment

Market Impact: Minimal. This is a routine listing of debt securities that expands investment options for debt market participants but has no bearing on equity markets or broader trading operations.

Operational Impact: Limited to debt segment traders and investors. Members dealing in corporate bonds will have additional PFC securities available for trading and portfolio construction.

Investor Impact: Provides fixed-income investors with additional investment opportunities in AAA-rated power sector bonds with attractive yields (6.85%-7.30%) and varying maturity profiles for portfolio diversification.

Impact Justification

Routine listing of debt securities with no impact on equity markets or trading rules. Relevant only to debt market participants.