Description
NSE notifies admission of 10 State Development Loans (SDLs) across 7 states and 3 Government of India Treasury Bills (91D, 182D, 364D) for trading on the Capital Market segment effective May 04, 2026.
Summary
NSE has notified the listing of 13 new government securities on its Capital Market segment with effect from May 04, 2026. These include 10 State Development Loans (SDLs) issued by 7 state governments (Kerala, Uttarakhand, Bihar, Madhya Pradesh, Uttar Pradesh, Assam, Chhattisgarh) and 3 Government of India Treasury Bills (91-day, 182-day, and 364-day). All securities carry a standard lot size of 100.
Key Points
- 13 securities admitted to trading on NSE Capital Market segment effective May 04, 2026
- 10 SDLs from 7 states with coupon rates ranging from 7.08% to 7.83% and maturities between 2029 and 2049
- 3 GOI T-bills: 91-day (matures Jul 30, 2026), 182-day (matures Oct 29, 2026), 364-day (matures Apr 29, 2027)
- All securities carry a uniform lot size of 100 units
- Circular issued under Regulation 3.1.1 and Regulation 2.5.5 of NSE Capital Market Trading Regulations Part A
- Securities are identified solely by their designated NSE codes for trading purposes
Regulatory Changes
No new regulatory changes. This circular is issued in routine compliance with Regulation 3.1.1 (admission of securities to dealings) and Regulation 2.5.5 (lot sizes) of the National Stock Exchange (Capital Market) Trading Regulations Part A.
Compliance Requirements
- All NSE members must use the designated security codes when trading these instruments
- Trading must be conducted in the specified lot size of 100 units per security
- No additional compliance action required from members beyond standard government securities trading norms
Important Dates
- Circular Date: April 29, 2026
- Effective Date (trading commencement): May 04, 2026
- SDL Maturity Dates: Range from April 29, 2029 (SDL UK 7.08%) to April 29, 2049 (SDL KL 7.83%)
- T-bill Maturity Dates: July 30, 2026 (91D) | October 29, 2026 (182D) | April 29, 2027 (364D)
Impact Assessment
SDL Securities Listed (Lot Size 100, Series SG):
| Symbol | Description | Coupon | Maturity | ISIN |
|---|---|---|---|---|
| 783KL49 | SDL Kerala 7.83% 2049 | 7.83% | 29-Apr-2049 | IN2020260047 |
| 769UK36 | SDL Uttarakhand 7.69% 2036 | 7.69% | 29-Apr-2036 | IN3620260023 |
| 769BR35 | SDL Bihar 7.69% 2035 | 7.69% | 29-Apr-2035 | IN1320260020 |
| 764MP34 | SDL Madhya Pradesh 7.64% 2034 | 7.64% | 29-Apr-2034 | IN2120260038 |
| 772UP36A | SDL Uttar Pradesh 7.72% 2036 | 7.72% | 29-Apr-2036 | IN3320260026 |
| 783AS46 | SDL Assam 7.83% 2046 | 7.83% | 29-Apr-2046 | IN1220260013 |
| 708UK29 | SDL Uttarakhand 7.08% 2029 | 7.08% | 29-Apr-2029 | IN3620260015 |
| 768CG36 | SDL Chhattisgarh 7.68% 2036 | 7.68% | 29-Apr-2036 | IN3520260032 |
| 782CG48 | SDL Chhattisgarh 7.82% 2048 | 7.82% | 29-Apr-2048 | IN3520260040 |
| 783MP48 | SDL Madhya Pradesh 7.83% 2048 | 7.83% | 29-Apr-2048 | IN2120260046 |
Treasury Bills Listed (Lot Size 100, Series TB):
| Symbol | Description | Maturity | ISIN |
|---|---|---|---|
| 91D300726 | GOI T-Bill 91D | 30-Jul-2026 | IN002026X040 |
| 182D291026 | GOI T-Bill 182D | 29-Oct-2026 | IN002026Y048 |
| 364D290427 | GOI T-Bill 364D | 29-Apr-2027 | IN002026Z045 |
This is a routine government securities listing with minimal market impact. The addition of these instruments provides investors with additional fixed-income options on the exchange platform. SDL coupon rates cluster between 7.08%–7.83%, consistent with prevailing state government borrowing rates.
Impact Justification
Routine periodic listing of government securities (SDLs and T-bills) on the capital market segment. No regulatory changes or compliance obligations for market participants beyond awareness of new tradeable symbols and lot sizes.