Description
NSE admits privately placed commercial papers from LIC Housing Finance, Godrej Industries, SIDBI, EXIM Bank, IIFL Finance, Tata Steel, Hero FinCorp, ICICI Securities, and HDFC Securities to dealings on the Debt Market Segment effective March 9, 2026.
Summary
NSE has admitted 10 privately placed commercial paper (CP) instruments to dealings on its Debt Market Segment effective March 9, 2026, under Regulation 3.1.1 of the National Stock Exchange Debt Market (Trading) Regulations. The issuers include major financial institutions and large corporates with maturities ranging from 2 months to 1 year.
Key Points
- 10 commercial paper instruments from 9 companies admitted to the NSE Debt Market Segment
- All instruments are fresh issues under the commercial paper (CP) category
- Face value for all instruments: ₹5,00,000 per unit
- Allotment dates: March 6, 2026 (most instruments) and March 9, 2026 (ICICI Securities and HDFC Securities)
- Effective date for dealings: March 9, 2026
- Circular reference: NSE/CML/73203, Ref No: 0408/2026
Regulatory Changes
No new regulatory changes. This circular is issued in pursuance of existing Regulation 3.1.1 of the National Stock Exchange Debt Market (Trading) Regulations for routine listing notifications.
Compliance Requirements
- All NSE members are notified of the new security codes assigned to these instruments as specified in the Annexure
- Members may trade these instruments on the Debt Market Segment using the designated security codes
Important Dates
| Company | ISIN | Allotment Date | Redemption Date |
|---|---|---|---|
| LIC Housing Finance Ltd (Sr 3) | INE115A14FQ6 | 06-Mar-2026 | 05-Mar-2027 |
| Godrej Industries Ltd (Sr 171) | INE233A147K9 | 06-Mar-2026 | 05-Jun-2026 |
| SIDBI (Sr 30) | INE556F14MD4 | 06-Mar-2026 | 05-Jun-2026 |
| Export Import Bank of India (Sr 13) | INE514E14TG4 | 06-Mar-2026 | 05-Jun-2026 |
| IIFL Finance Ltd (Sr 2576) | INE530B14GS8 | 06-Mar-2026 | 05-Jun-2026 |
| Tata Steel Ltd | INE081A14GS4 | 06-Mar-2026 | 05-May-2026 |
| IIFL Finance Ltd (Sr 2577) | INE530B14GT6 | 06-Mar-2026 | 04-Mar-2027 |
| Hero FinCorp Ltd (Sr 15) | INE957N14JY0 | 06-Mar-2026 | 05-Mar-2027 |
| ICICI Securities Ltd | INE763G14G59 | 09-Mar-2026 | 08-Jun-2026 |
| HDFC Securities Ltd | INE700G14TA7 | 09-Mar-2026 | (not specified) |
Impact Assessment
This is a routine administrative circular with no market-moving implications. The listing of these commercial papers expands the tradeable universe on NSE’s Debt Market Segment. Instruments span a mix of short-term (2–3 month) and medium-term (12-month) tenors. Issue prices reflect prevailing discount rates for each issuer’s credit profile. SIDBI and EXIM Bank (sovereign-backed institutions) carry the tightest discounts, while IIFL Finance reflects a wider spread commensurate with its NBFC risk profile. Fixed income traders and institutional investors tracking short-term debt markets should note the new ISIN codes for these instruments.
Impact Justification
Routine debt market listing circular admitting 10 commercial paper instruments from large financial institutions and corporates; no policy change, but relevant to fixed income market participants tracking short-term debt instruments.