Description
NSE admits privately placed commercial papers from 10 companies including Sundaram Finance, HDB Financial Services, Cholamandalam, Muthoot Finance, Kotak Securities, and others to dealings on the Debt Market Segment effective March 2, 2026.
Summary
NSE has admitted privately placed commercial papers (CPs) from 10 financial institutions to dealings on its Debt Market Segment effective March 2, 2026, under Regulation 3.1.1 of the National Stock Exchange Debt Market (Trading) Regulations. The securities span allotment dates of February 27 and March 2, 2026, with redemption tenors ranging from approximately 35 days to one year.
Key Points
- 10 commercial paper issuances from leading NBFCs and financial services companies admitted to NSE Debt Market Segment
- All securities are fresh issues under the Commercial Paper (CP) category
- Face value of INR 5,00,000 per unit across all issuances
- Allotment dates: February 27, 2026 (majority) and March 2, 2026
- Effective date of dealings: March 2, 2026
- Circular Ref. No: 0360/2026 | Download Ref No: NSE/CML/73073
Regulatory Changes
No new regulatory changes introduced. This circular is issued in pursuance of the existing Regulation 3.1.1 of the National Stock Exchange Debt Market (Trading) Regulations as a standard notification of new securities admitted to the Debt Market Segment.
Compliance Requirements
All NSE members dealing in debt market instruments should update their systems with the new security codes and ISINs as specified in the Annexure. No additional compliance action is required beyond standard debt market trading procedures.
Important Dates
| Company | ISIN | Allotment Date | Redemption Date |
|---|---|---|---|
| Sundaram Finance Limited (SFL CP 12/02/27) | INE660A14YV2 | 27-Feb-2026 | 12-Feb-2027 |
| Barclays Investments & Loans India Pvt Ltd (BILIPL CP 06/08/26 Sr 566) | INE704I14LC8 | 27-Feb-2026 | 06-Aug-2026 |
| HDB Financial Services Ltd (HFSL CP 04/05/26 Sr 328) | INE756I14GA2 | 27-Feb-2026 | 04-May-2026 |
| HDB Financial Services Ltd (HFSL CP 29/05/26 Sr 327) | INE756I14FZ1 | 27-Feb-2026 | 29-May-2026 |
| HDB Financial Services Ltd (HFSL CP 06/04/26 Sr 329) | INE756I14GB0 | 27-Feb-2026 | 06-Apr-2026 |
| Cholamandalam Investment and Finance Co Ltd (CIAFCL CP 26/02/27) | INE121A14YM4 | 27-Feb-2026 | 26-Feb-2027 |
| Aditya Birla Money Limited (ABML CP 01/06/26) | INE865C14PN8 | 02-Mar-2026 | 01-Jun-2026 |
| Kotak Securities Limited (KSL CP 01/06/26 Sr 319) | INE028E14VG1 | 02-Mar-2026 | 01-Jun-2026 |
| Muthoot Finance Limited (MFL CP 25/02/27) | INE414G14VM6 | 27-Feb-2026 | 25-Feb-2027 |
| HSBC Investdirect Financial Services (I) Ltd (HIFSIL CP 15/01/27 Sr 9) | INE790I14HK8 | 27-Feb-2026 | 15-Jan-2027 |
Impact Assessment
This is a routine debt market operational circular with low market impact. The listing of these commercial papers provides short-to-medium term liquidity instruments from well-established NBFCs and financial companies on the NSE Debt Market Segment. Total issuance is significant in aggregate (e.g., Cholamandalam alone issued 20,000 units at INR 5 lakh face value = INR 1,000 crore notional), indicating continued active commercial paper market activity. No impact on equity markets or broader compliance obligations for members.
Impact Justification
Routine debt market listing notification for privately placed commercial papers; no regulatory changes or compliance requirements for equity market participants; relevant only to debt market members dealing in these specific instruments.