Description
NSE lists 3 State Development Loans (SDLs) and 3 Government Treasury Bills on the Capital Market Segment effective May 15, 2026, with designated security codes and lot sizes specified.
Summary
NSE has notified the listing of 6 government debt securities — 3 State Development Loans (SDLs) and 3 Treasury Bills (T-bills) — on the Capital Market Segment with effect from May 15, 2026. The circular is issued pursuant to Regulation 3.1.1 and Regulation 2.5.5 of the NSE Capital Market Trading Regulations Part A, specifying security codes and lot sizes.
Key Points
- 3 State Development Loans (SDLs) from Maharashtra, Mizoram, and Manipur are admitted to trading
- 3 Government of India Treasury Bills (91-day, 182-day, and 364-day) are admitted to trading
- All securities carry a standard lot size of 100
- Trading must use designated security codes (symbols) as specified in the Annexure
- Effective date is May 15, 2026
Regulatory Changes
No new regulatory changes are introduced. The listing is made pursuant to existing Regulation 3.1.1 (admission of securities to dealings) and Regulation 2.5.5 (lot sizes) of the NSE Capital Market Trading Regulations Part A.
Compliance Requirements
- All NSE members must use the designated security codes for trading in these instruments
- Trading in each security must conform to the specified lot size of 100 units
- No additional compliance action is required from members beyond standard trading procedures for debt instruments
Important Dates
- Circular Date: May 13, 2026
- Effective Date: May 15, 2026 (all 6 securities admitted to dealings)
- SDL Maturity Dates: May 13, 2033 (MN), May 13, 2036 (ML), May 13, 2038 (MZ)
- T-bill Maturity Dates: August 13, 2026 (91D), November 12, 2026 (182D), May 13, 2027 (364D)
Impact Assessment
| Symbol | Description | Coupon | Maturity | ISIN |
|---|---|---|---|---|
| 777ML36 | SDL ML 7.77% 2036 | 7.77% | 13-May-2036 | IN2420260027 |
| 785MZ38 | SDL MZ 7.85% 2038 | 7.85% | 13-May-2038 | IN2520260018 |
| 775MN33 | SDL MN 7.75% 2033 | 7.75% | 13-May-2033 | IN2320260010 |
| 91D130826 | GOI T-Bill 91D | — | 13-Aug-2026 | IN002026X065 |
| 182D121126 | GOI T-Bill 182D | — | 12-Nov-2026 | IN002026Y063 |
| 364D130527 | GOI T-Bill 364D | — | 13-May-2027 | IN002026Z060 |
This is a routine listing of sovereign and quasi-sovereign debt instruments. The SDLs carry competitive coupon rates between 7.75%–7.85%, relevant to institutional investors and fixed-income portfolios. The T-bills provide short-term government paper across standard maturities. No equity market impact is anticipated.
Impact Justification
Routine listing of government-backed debt securities (T-bills and SDLs) on NSE capital market segment. Impacts debt market participants and institutional investors but involves no regulatory changes or compliance burdens for equity market participants.