Description
NSE admits 8 privately placed debt securities to dealings on the Capital Market segment effective April 06, 2026, covering companies including PNB Housing Finance, Aditya Birla Capital, and Lodha Developers.
Summary
NSE has notified the listing of 8 privately placed debt securities on the Capital Market segment effective April 06, 2026, pursuant to Regulation 3.1.1 of the National Stock Exchange (Capital Market) Trading Regulations Part A. The securities span multiple issuers including NBFC, housing finance, real estate, and InvIT sectors, with lot sizes of 1 unit each under Series N0.
Key Points
- 8 new debt securities admitted to dealings on NSE Capital Market segment from April 06, 2026
- All securities listed under Series N0 with a market lot of 1
- Issuers include Dar Credit & Capital, Alpha Alternatives Financial Services, PNB Housing Finance, Aditya Birla Capital, Lodha Developers, SMFG India Home Finance, and NDR InvIT Trust
- Coupon structures vary: fixed rate (12.75%, 7.7173%, 8.52%), market-linked, and reset rate instruments
- Maturities range from September 2028 to July 2031
- Securities must be identified solely by their designated codes for trading purposes
Regulatory Changes
No new regulatory changes introduced. The circular is issued pursuant to existing Regulation 3.1.1 (admission to dealings) and Regulation 2.5.5 (lot sizes) of NSE Capital Market Trading Regulations Part A.
Compliance Requirements
- Trading members must use only the designated security codes when trading these instruments
- All trades must be executed in the specified lot sizes (1 unit per lot for all listed securities)
- Members are advised to update their systems with the new ISIN codes and symbols before April 06, 2026
Important Dates
- Circular Date: April 02, 2026
- Effective Date for Trading: April 06, 2026
Impact Assessment
| Company | Symbol | Coupon | Maturity | ISIN |
|---|---|---|---|---|
| Dar Credit & Capital Limited | 1275DCCL28 | 12.75% | 30-Sep-2028 | INE04Q907181 |
| Alpha Alternatives Financial Services Pvt Ltd | AAFS31A | Market Linked | 25-Feb-2031 | INE0L6807302 |
| Alpha Alternatives Financial Services Pvt Ltd | AAFS31B | Market Linked | 08-Jul-2031 | INE0L6807310 |
| PNB Housing Finance Limited | PHFL29 | RESET | 30-Mar-2029 | INE572E07282 |
| Aditya Birla Capital Limited | 772ABCL31 | 7.7173% | 13-May-2031 | INE674K07135 |
| Lodha Developers Limited | 852LDL36 | 8.52% | 31-Mar-2036 | INE670K07356 |
| SMFG India Home Finance Company Limited | SIHF29A | RESET | 30-Mar-2029 | INE213W07376 |
| NDR InvIT Trust | NDR31 | RESET | 15-Mar-2031 | INE0Q7Q07034 |
The listing expands the tradable debt universe on NSE, providing liquidity to holders of these privately placed instruments. Market impact is limited to institutional and high-net-worth investors who typically participate in the private placement debt market. Presence of reputed issuers like PNB Housing Finance and Aditya Birla Capital signals continued corporate appetite for bond market fundraising.
Impact Justification
Routine admission of privately placed debt securities to NSE Capital Market segment; affects bond market participants and investors in the listed companies, with effective date April 06, 2026.