Description
NSE admits privately placed Commercial Papers and debt securities from companies including HSBC Investdirect, LIC Housing Finance, Godrej Industries, NABARD, Tata Communications, IIFL Finance, Godrej & Boyce, and Vedika Credit Capital to dealings on the Debt Market Segment effective March 27, 2026.
Summary
NSE has admitted privately placed securities to dealings on its Debt Market Segment with effect from March 27, 2026, pursuant to Regulation 3.1.1 of the National Stock Exchange Debt Market (Trading) Regulations. The listing covers eight Commercial Papers (CPs) and one debt bond from eight companies, with designated security codes assigned as per the annexure.
Key Points
- Eight Commercial Papers admitted across seven issuers: HSBC Investdirect Financial Services, LIC Housing Finance (2 CPs), Godrej Industries, NABARD, Tata Communications, IIFL Finance (2 CPs), and Godrej & Boyce Mfg Co Ltd
- One Other Debt Security admitted: Vedika Credit Capital Limited (VCCL 11.5% 2031, Series DB)
- All CPs have a face value of ₹5,00,000 per unit with varying issue prices reflecting short-term discount
- Most CPs were allotted on March 25, 2026; Godrej & Boyce CP allotted on March 27, 2026
- Redemption dates range from April 24, 2026 (NABARD, Tata Communications) to March 24, 2027 (IIFL Finance)
- Circular issued by Bansri Gosalia, Senior Manager, NSE Listing Department (Ref: NSE/CML/73498, Circular No. 0534/2026)
Regulatory Changes
No new regulatory changes introduced. This circular is a standard notification under the existing framework of Regulation 3.1.1 of the NSE Debt Market (Trading) Regulations, confirming admission of privately placed securities to the Debt Market Segment.
Compliance Requirements
- All NSE members are notified of the new security codes and must use the designated ISIN codes for trading these instruments
- Members dealing in debt securities should update their systems with the new ISINs and security codes listed in the annexure
Important Dates
| Security | Allotment Date | Redemption Date |
|---|---|---|
| HIFSIL CP 21/09/26 Sr 14 (INE790I14HO0) | 25-Mar-2026 | 21-Sep-2026 |
| LHFL CP 11/03/27 Sr 6 (INE115A14FT0) | 25-Mar-2026 | 11-Mar-2027 |
| GIL CP 24/06/26 Sr 183 (INE233A147W4) | 25-Mar-2026 | 24-Jun-2026 |
| LHFL CP 24/06/26 Sr 7 (INE115A14FU8) | 25-Mar-2026 | 24-Jun-2026 |
| NABARD CP 24/04/26 Sr 26 (INE261F14PD4) | 25-Mar-2026 | 24-Apr-2026 |
| TCM CP 24/04/26 (INE151A14263) | 25-Mar-2026 | 24-Apr-2026 |
| IIFL CP 24/03/27 Sr 2584 (INE530B14HB2) | 25-Mar-2026 | 24-Mar-2027 |
| IIFL CP 25/09/26 Sr 2585 (INE530B14HA4) | 25-Mar-2026 | 25-Sep-2026 |
| GBMCL CP 12/06/26 (INE982D14BM1) | 27-Mar-2026 | 12-Jun-2026 |
- Effective date for dealings: March 27, 2026
Impact Assessment
This is a routine debt market listing circular with moderate market relevance. The CPs span tenors from approximately one month (NABARD, Tata Communications) to one year (LIC Housing Finance), providing short-to-medium term liquidity instruments for institutional investors. Notable issuances include LIC Housing Finance’s large 40,000-unit CP (₹500,000 face value, ₹1,962 crore notional) and NABARD’s 33,500-unit CP (₹1,665 crore notional), which are significant in size. IIFL Finance’s dual CP issuance across different maturities indicates active short-term funding activity. The Vedika Credit Capital 11.5% 2031 bond represents a longer-dated fixed income instrument from an NBFC. Overall impact is limited to debt market participants and does not materially affect equity markets.
Impact Justification
Routine debt market listing notification covering 9 privately placed securities (mostly CPs) from well-known issuers; relevant to debt market participants and investors in the listed companies.