Description

NSE notifies listing of 31 State Development Loans (SDLs) and 3 Treasury Bills (T-bills) on the Capital Market segment, effective March 20, 2026, with a market lot size of 100 for all securities.

Summary

NSE has notified the listing of 34 securities — 31 State Development Loans (SDLs) from various state governments and 3 Government of India Treasury Bills (T-bills) — on the Capital Market segment, effective March 20, 2026. All securities have a market lot size of 100 units.

Key Points

  • 31 SDLs from states including Tripura, Chhattisgarh, Kerala, West Bengal, Madhya Pradesh, Gujarat, Puducherry, Maharashtra, Jharkhand, Tamil Nadu, Telangana, Goa, Haryana, Rajasthan, Uttar Pradesh, Assam, Sikkim, Jammu & Kashmir, and Nagaland are being listed.
  • 3 T-bills listed: 91-day (maturity 19-Jun-2026), 182-day (maturity 18-Sep-2026), and 364-day (maturity 19-Mar-2027).
  • SDL coupon rates range from 6.83% (MH 2030) to 7.80% (JK 2046).
  • SDL maturities range from 2030 to 2056.
  • All securities carry a uniform market lot size of 100.
  • Securities are identified by designated codes (Symbols) for trading purposes.
  • Issued under Download Ref No: NSE/CML/73353, Circular Ref. No: 0467/2026.

Regulatory Changes

No new regulatory changes. This circular is issued pursuant to Regulation 3.1.1 and Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A, which govern admission of securities to dealings and lot size specifications respectively.

Compliance Requirements

  • Members must use only the designated security codes for trading these securities on the system.
  • Trading must be conducted in the specified lot sizes (100 units for all listed securities).
  • No additional compliance action required from members beyond standard trading procedures.

Important Dates

  • Circular Date: March 18, 2026
  • Effective Date: March 20, 2026 (securities admitted to dealings)
  • T-bill Maturities: 19-Jun-2026 (91D), 18-Sep-2026 (182D), 19-Mar-2027 (364D)
  • SDL Maturities: Range from March 18, 2030 (NL, MH) to March 18, 2056 (TS)

Impact Assessment

This is a routine administrative listing circular for government securities. The addition of 34 new instruments (31 SDLs and 3 T-bills) expands the tradable universe of debt securities on NSE’s Capital Market segment. This is primarily relevant to institutional investors, primary dealers, and debt-focused market participants. The listing broadens liquidity options for government securities and supports price discovery in the SDL market. No impact on equity markets or retail equity investors.

Impact Justification

Routine listing of government securities (T-bills and SDLs) on the capital market segment; relevant to debt market participants and institutional investors but not directly impactful to equity traders.