Description
NSE admits privately placed securities including commercial papers from JM Financial, Kotak Securities, HSBC Investdirect, Tata Capital, Godrej Industries, NABARD, Aditya Birla Money, EXIM Bank, Godrej & Boyce, and debentures from IIFL Finance to debt market segment effective March 12, 2026.
Summary
NSE has admitted privately placed securities to its Debt Market Segment effective March 12, 2026, pursuant to Regulation 3.1.1 of the National Stock Exchange Debt Market (Trading) Regulations. The circular covers nine commercial paper issuances and one debenture issuance across major financial institutions and corporates.
Key Points
- 9 fresh commercial paper (CP) issues admitted to NSE Debt Market Segment effective March 12, 2026
- 1 debenture (DB) issue from IIFL Finance Limited also listed
- All CPs allotted on March 11, 2026 except Godrej & Boyce (allotted March 12, 2026)
- Face value of all CPs: ₹5,00,000 per unit
- Maturities range from ~1 month (NABARD) to 1 year (Tata Capital)
- Issued under NSE/CML/73252, Circular Ref. No: 0434/2026
Regulatory Changes
No new regulatory changes. Listing is in pursuance of existing Regulation 3.1.1 of the National Stock Exchange Debt Market (Trading) Regulations.
Compliance Requirements
- Designated security codes as specified in the Annexure are assigned to each security
- Members are notified to update their systems with new ISINs and security codes for trading
Important Dates
| Company | Allotment Date | Redemption Date |
|---|---|---|
| JM Financial Services (JFSL CP Sr 39) | 11-Mar-2026 | 14-Jul-2026 |
| Kotak Securities (KSL CP Sr 340) | 11-Mar-2026 | 10-Jun-2026 |
| HSBC Investdirect (HIFSIL CP Sr 11) | 11-Mar-2026 | 10-Jun-2026 |
| Tata Capital (TCL CP Sr 35) | 11-Mar-2026 | 09-Mar-2027 |
| Godrej Industries (GIL CP Sr 173) | 11-Mar-2026 | 10-Jun-2026 |
| NABARD (NABARD CP Sr 26) | 11-Mar-2026 | 10-Apr-2026 |
| Aditya Birla Money (ABML CP) | 11-Mar-2026 | 10-Jun-2026 |
| Export Import Bank of India (EXIM CP Sr 14) | 11-Mar-2026 | 10-Jun-2026 |
| Godrej & Boyce (GBMCL CP) | 12-Mar-2026 | 07-May-2026 |
| IIFL Finance (IIFL 8.60% 2027 Sr D 36) | — | 2027 |
- Effective date for trading: March 12, 2026
Impact Assessment
This is a routine listing notification with no broad market impact. It provides liquidity and tradability on the NSE debt segment for institutional investors holding these privately placed instruments. The issuers span prominent financial institutions (NABARD, EXIM Bank, Tata Capital, IIFL Finance) and large corporates (Godrej Industries, Godrej & Boyce), indicating continued active use of the CP market for short-term funding. NABARD and EXIM Bank issuances are the largest by volume (38,000 and 44,000 units respectively), reflecting government-backed institution activity in the debt market.
Impact Justification
Routine administrative listing of privately placed debt securities (commercial papers and debentures) on NSE debt segment; no policy change or market-wide regulatory impact.