Description

NSE notifies admission of seven privately placed debt securities to dealings on the Capital Market segment effective March 17, 2026, including bonds from NIIF Infrastructure Finance, Citicorp Finance, Canara HSBC Life Insurance, Bharti Telecom, and REC Limited.

Summary

NSE has notified, pursuant to Regulation 3.1.1 of the NSE Capital Market Trading Regulations Part A, the admission of seven privately placed debt securities to dealings on the Capital Market segment effective March 17, 2026. The securities span five issuers and include fixed-rate and T-Bill linked bonds with maturities ranging from 2028 to 2036.

Key Points

  • Seven new privately placed securities admitted to NSE Capital Market segment effective March 17, 2026
  • All securities are assigned Series N0 with a market lot size of 1
  • Issuers include NIIF Infrastructure Finance Limited, Citicorp Finance (India) Limited, Canara HSBC Life Insurance Company Limited, Bharti Telecom Limited, and REC Limited
  • One security (CITI28) has a floating coupon rate linked to 3-Month T-Bill; all others carry fixed coupon rates
  • Securities must be identified and traded only by their designated codes

Regulatory Changes

No new regulatory changes introduced. This circular is a routine notification under existing Regulation 3.1.1 and Regulation 2.5.5 of the NSE Capital Market Trading Regulations Part A, notifying lot sizes and security codes for newly listed instruments.

Compliance Requirements

  • Trading members must use designated security codes for all trades in these securities
  • All trading must be conducted in the specified lot sizes (market lot of 1 for all seven securities)
  • Members must update their systems to recognize the new security codes effective March 17, 2026

Important Dates

  • Circular Date: March 16, 2026
  • Effective Date: March 17, 2026 (admission to dealings)
  • Maturity Dates by Security:
    • 756NIIF31 (NIIF 7.56% 2031 Sr PP8): April 17, 2031
    • 7545NIIF28 (NIIF 7.545% 2028 Sr PP8): November 13, 2028
    • CITI28 (3M TBILL LKD 28 Sr 818): June 12, 2028
    • 815CHLI36 (CHLI 8.15% 2036): March 13, 2036
    • 775BTL28 (BTL 7.75% 2028 Sr XXIX): February 29, 2028
    • 719RECL31 (REC 7.19% 2031 Sr 252): March 15, 2031
    • 785BTL29 (BTL 7.85% 2029 Sr XXX): March 20, 2029

Impact Assessment

This is a routine listing notification with moderate market relevance. Debt market participants and institutional investors gain exchange-traded access to seven new privately placed bonds across infrastructure finance, banking, insurance, telecom, and power sectors. The inclusion of a T-Bill linked instrument (CITI28) provides a floating-rate option. Bharti Telecom has two bonds listed simultaneously (775BTL28 and 785BTL29), reflecting active fundraising. REC Limited and NIIF Infrastructure Finance are frequent issuers in the infrastructure debt space. Overall market impact is limited to participants in these specific instruments.

Impact Justification

Routine listing notification for seven privately placed debt securities across five issuers; affects debt market participants and investors in these specific instruments but has no broad regulatory or market-wide impact.