Description

NSE admits privately placed Commercial Papers and debt securities from 9 companies including Godrej Industries, Kotak Securities, Aditya Birla Capital, CEAT, Hero FinCorp, Axis Securities, HSBC Investdirect, and Cholamandalam Investment to dealings on the Debt Market Segment effective February 25, 2026.

Summary

NSE has admitted privately placed securities from nine companies to dealings on the Debt Market Segment of the Exchange effective February 25, 2026, pursuant to Regulation 3.1.1 of the National Stock Exchange Debt Market (Trading) Regulations. The admitted securities comprise eight Commercial Papers (CPs) and one debt bond instrument.

Key Points

  • Nine privately placed securities admitted to the NSE Debt Market Segment effective February 25, 2026
  • Eight securities are Commercial Papers (CP); one is a debt bond (DB)
  • Allotment dates are either February 24 or February 25, 2026
  • CP maturities range from approximately 50 days (CEAT, April 16, 2026) to 12 months (Kotak Securities Sr 303 and HSBC Investdirect, February 2027)
  • Face value for all CPs is Rs. 5,00,000 per unit
  • Cholamandalam Investment and Finance Company Limited listed a 8.66% bond maturing in 2033 (Sr SD79, ISIN INE121A08PY9)

Regulatory Changes

No new regulatory changes. Admission is made under the existing framework of Regulation 3.1.1 of the National Stock Exchange Debt Market (Trading) Regulations.

Compliance Requirements

  • All Exchange members dealing in the Debt Market Segment must recognize the newly assigned security codes specified in the Annexure
  • Trading in the listed securities may commence from February 25, 2026 using the designated security codes

Important Dates

  • Effective Date of Admission: February 25, 2026
  • Allotment Date (most securities): February 24, 2026
  • Allotment Date (Axis Securities Sr 75, Kotak Securities Sr 304, HSBC Investdirect Sr 7): February 25, 2026
  • Earliest Redemption: April 16, 2026 — CEAT Limited CP (ISIN INE482A14FM9)
  • Latest Redemption: February 24, 2027 — Kotak Securities CP Sr 303 (ISIN INE028E14VC0)
  • Long-term Bond Maturity: 2033 — Cholamandalam Investment and Finance Company Limited 8.66% Sr SD79

Impact Assessment

This is a routine operational circular with low market impact. The admission of these CPs and debt securities expands the tradeable instruments on the NSE Debt Market Segment, providing additional short-term and medium-term fixed-income instruments for debt market participants. The issuers — Godrej Industries, Kotak Securities, Aditya Birla Capital, CEAT, Hero FinCorp, Axis Securities, HSBC Investdirect, and Cholamandalam Investment — are established financial and industrial entities. The Cholamandalam 8.66% 2033 bond (100,000 units) represents a significant long-duration issuance relevant to fixed-income investors. No impact on equity market trading or broader compliance obligations.

Impact Justification

Routine admission of privately placed Commercial Papers and debt securities to the NSE Debt Market Segment. No new regulatory changes or compliance requirements for equity market participants; affects only debt market members and the specific issuers.