Description

NSE notifies admission of privately placed commercial papers from 10 companies including Aditya Birla Money, HDFC Securities, Godrej Industries, CEAT, and Tata Projects to dealings on the Debt Market Segment effective February 24, 2026.

Summary

NSE’s Listing Department (Circular Ref. No. 0307/2026, Download Ref No. NSE/CML/72972) notifies the admission of fresh privately placed Commercial Papers (CPs) from ten companies to the Debt Market Segment of the Exchange, effective February 24, 2026. All securities were allotted on February 23, 2026, with maturities ranging from April 2026 to February 2027.

Key Points

  • 10 companies have listed fresh Commercial Paper issuances on NSE’s Debt Market Segment effective February 24, 2026
  • All CPs have a face value of ₹5,00,000 per unit and were allotted on February 23, 2026
  • Issuances are pursuant to Regulation 3.1.1 of the National Stock Exchange Debt Market (Trading) Regulations
  • Maturities range from short-term (April 2026) to approximately one year (February 2027)
  • Total quantity across disclosed issuances exceeds 30,200 units (partial list — circular appears truncated)

Regulatory Changes

No new regulatory changes. This circular is issued in pursuance of the existing Regulation 3.1.1 of the National Stock Exchange Debt Market (Trading) Regulations, which mandates notification of newly admitted debt securities.

Compliance Requirements

  • Designated security codes as specified in the Annexure are to be used by all members for trading these instruments
  • All members are informed to note the new listings and their respective ISINs and security codes for dealing purposes

Important Dates

  • Date of Allotment (all securities): February 23, 2026
  • Effective Date for Dealings: February 24, 2026
  • Redemption Dates by issuer:
    • CEAT Limited (CL CP 09/04/26): April 9, 2026
    • HDFC Securities Limited (HSL CP 24/04/2026): April 24, 2026
    • Tata Projects Limited (TPL CP 22/05/26 Sr 208): May 22, 2026
    • Aditya Birla Money Limited (ABML CP 25/05/26): May 25, 2026
    • Godrej Industries Limited (GIL CP 25/05/26 Sr 165): May 25, 2026
    • Aditya Birla Capital Limited (ABCL CP 25/05/26 Sr 169): May 25, 2026
    • Cholamandalam Securities Limited (CSL CP 25/05/26 Sr 8): May 25, 2026
    • IndoStar Capital Finance Limited (ICFL CP 20/01/27): January 20, 2027
    • IndoStar Capital Finance Limited (ICFL CP 28/01/27): January 28, 2027
    • Axis Securities Limited (ASL CP 22/02/27 Sr 74): February 22, 2027

Impact Assessment

This is a routine operational circular with no material impact on equity markets. The listings provide institutional investors and debt market participants access to short-term money market instruments from financially established corporates. The issuances reflect active short-term borrowing activity by large financial sector entities (Aditya Birla Money, HDFC Securities, Axis Securities, IndoStar Capital Finance) and industrial companies (Godrej Industries, CEAT, Tata Projects, Cholamandalam Securities). The significant discount to face value on longer-dated CPs (e.g., Axis Securities at ₹4,65,334.5 vs. ₹5,00,000 face value for a ~1-year tenor) reflects prevailing short-term interest rates. No action is required by equity market participants.

Impact Justification

Routine administrative notification of commercial paper listings on the NSE debt market segment. No regulatory changes, no equity market impact; affects only debt market participants and institutional investors dealing in short-term money market instruments.