Executive Summary
The India debt securities market on September 3, 2026, was characterized by a significant volume of routine CP and NCD redemptions, with over ₹5,000 crore in aggregate repayments (including ~₹1,025 crore from Bajaj Finance and ₹1,900 crore from Tata Steel) executed on time, reflecting robust corporate liquidity.
A notable positive development was the credit rating upgrade of JSW Steel to 'IND AA+' by India Ratings, driven by a deleveraging event from a ₹374 billion asset sale. Sector-wise, the NBFC/HFC segment showed strong payment discipline, with multiple firms making early interest and principal payments, while Kuantum Papers raised ₹100 crore via high-coupon (12.70%) unlisted NCDs, signaling demand for riskier credit. However, several NCD rating withdrawals by CARE for Tata Housing Development Company warrant monitoring. The overall theme is one of solid debt servicing capability with selective credit events.
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Filing types in this digest: Debt securities
Tracking the trend? Catch up on the prior India Debt Bond Securities SEBI Regulatory Filings digest from August 27, 2026.
Investment Signals (9)
- JSW Steel ↓ (BULLISH)▲
Rating upgraded to 'IND AA+' on 1.93x net leverage (from 2.65x), driven by a ₹374 bn cash inflow. EBITDA/t surged 49% YoY to ₹15,013.
- Bajaj Finance (BULLISH)▲
Successfully redeemed ₹1,025 Cr CP on maturity, demonstrating robust short-term funding access and liquidity management.
- Tata Steel (BULLISH)▲
Fully redeemed a ₹1,900 Cr CP on time, the largest single CP redemption in this set, confirming top-tier creditworthiness.
- Muthoot Mercantile (BULLISH)▲
Paid ₹31.36 Cr in interest and redeemed ₹29.77 Cr in NCDs one day early, reflecting strong cash flow management.
- Ratnaafin Capital (BULLISH)▲
Made early interest (₹1.71 Cr) and partial principal (₹3.13 Cr) payments on NCDs, demonstrating proactive debt management.
- Kuantum Papers ↓ (BEARISH)▲
Raised ₹100 Cr via unlisted NCDs at a high coupon of 12.70% (incl. 3% redemption premium), indicating a higher cost of capital and potential credit risk appetite from investors.
- Tata Housing Development (BEARISH)▲
Had CARE ratings withdrawn on three NCDs. While reaffirmed for others, rating withdrawal is often a negative signal that can reduce secondary market liquidity.
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Exercising a call option on 7.14% Tier II Bonds (₹500 Cr) on Sep 30, 2026, which may force reinvestment risk on bond holders at potentially lower current yields. [NEUTRAL/BEARISH for bondholders]
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NCD holders approved early redemption of 9,990 NCDs, a move that conserves equity and reduces future interest burden. [BULLISH for equity, NEUTRAL for debt]
Risk Flags (8)
- Tata Housing Development / Credit Rating [HIGH RISK]▼
Ratings withdrawn on 3 NCDs (ISINs INE582L08045, 52, 60). While the company continues to have a 'CARE AA' rating on other instruments, a withdrawal can reduce marketability and signal a strained relationship with the rating agency.
- Kuantum Papers / High Cost of Debt↓ [MEDIUM RISK]▼
Raised ₹100 Cr at 12.70% p.a., a level typically associated with sub-investment grade or stressed credits. The reliance on personal guarantees and a 1.50x security cover indicates lenders needed significant protection.
- Vistaar Financial Services / Partial Redemption [MEDIUM RISK]▼
Quarterly partial redemption structure (₹6.25 Cr out of ₹18.75 Cr outstanding) indicates a high principal repayment burden over time, which could strain future cash flows if not managed well.
- Multiple CP Redemption Clusters▼
Six separate filings for Bajaj Finance CP redemption (all ₹1,025 Cr) and two for Tata Steel suggest high volumes of short-term debt maturing on the same day, increasing refinancing risk if market conditions tighten. [LOW RISK due to strong credit]
- JSW Steel / Industry Cyclicality↓ [MEDIUM RISK]▼
Despite the upgrade, the rating remains constrained by steel price volatility and forex exposure, with VASP (value-added steel product) share flat at 61%. A downturn in steel demand could reverse recent gains.
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Setting a record date for a ₹500 Cr bond redemption on Sep 12, 2026. While routine, large bond redemptions can indicate a shift in capital strategy or capital optimization.
- NeoGrowth Credit / Prepayment Trend [LOW RISK]▼
Made a quarterly interest payment 6 days early. While positive for bondholders, persistent early payments might indicate a lack of profitable reinvestment opportunities for the company's cash.
- Akara Capital Advisors / High-Frequency Payments [LOW RISK]▼
Paying monthly interest (₹9.18 lakh), which increases operational overhead for debt servicing and may indicate a need to attract investors with higher frequency payments.
Opportunities (8)
- JSW Steel / Deleveraging Play↓ (OPPORTUNITY)◆
The 1.93x net leverage post-slump sale positions the company strongly for future growth. If steel prices remain stable, a further upgrade to 'IND AAA' is possible. The upgrade also opens doors for cheaper debt refinancing.
- Kuantum Papers / High-Yield NCD↓ (OPPORTUNITY)◆
The 12.70% coupon (9.70% + 3% redemption premium) offers a significant yield pickup versus AAA-rated corporates (~7.5-8.5%), compensating for lower liquidity and security structure. Suitable for investors with higher risk appetite.
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The call option on Sep 30, 2026 presents an opportunity for bondholders to capture the broken-period interest and principal. For investors holding at a discount to face value, this could provide a capital gain. [OPPORTUNITY for bondholders]
- Tata Steel / Short-Term CP Rollover (OPPORTUNITY)◆
As a top-tier credit, Tata Steel's short-term CP issuance (3 months) provides a recurring, predictable investment opportunity for money market funds seeking high safety.
- Muthoot Mercantile / Prepayment Premium (OPPORTUNITY)◆
Early redemption implies bondholders received principal back sooner than expected, allowing faster reinvestment. For those reinvesting, current NCD yields may be higher than the original coupon.
- Can Fin Homes / Consistent Repayment (OPPORTUNITY)◆
Timely redemption of ₹500 Cr CP reinforces its credit profile. For investors, this signals a high-quality NBFC HFC that can be relied upon for timely debt servicing.
- Motilal Oswal Financial / Predictable Income↓ (OPPORTUNITY)◆
Annual interest payment of ₹15.73 Cr on its NCDs (ISIN INE338I07172) offers predictable cash flows for fixed-income investors.
- THDC India Ltd / AAA-like Safety (OPPORTUNITY)◆
Payment of ₹46.32 Cr annual interest on a GoI-linked bond (7.72% Series XI) provides a secure, albeit lower-yield, investment avenue with near-zero default risk.
Sector Themes (5)
- NBFC/HFC Strong Payment Discipline (SECTOR POSITIVE)◆
All NBFC/HFC filers (Bajaj Finance, Can Fin Homes, Aadhar Housing, Muthoot Mercantile, Motilal Oswal) made timely or early payments on CPs and NCDs, reflecting robust liquidity in the financial sector despite a tight rate environment. No instances of delay or default.
- Corporate CP Redemption Activity Intensifies (SECTOR NEUTRAL)◆
The digest captures over ₹5,000 Cr in CP redemptions on a single day (Sep 3, 2026) from names like Tata Steel (₹1,900 Cr), Bajaj Finance (₹1,025 Cr x multiple instruments), and Can Fin Homes (₹500 Cr). This highlights a heavy maturity wall on specific dates, requiring robust treasury management.
- Selective Credit Tightening for Lower-Rated Entities (SECTOR DIVERGENCE)◆
Kuantum Papers raised debt at a 12.70% coupon with extensive security (personal guarantees, lien-marked FDs), while higher-rated entities (Tata Steel, Bajaj Finance) paid lower rates. This bifurcation indicates that credit differentiation is sharpening, with riskier names facing significantly higher costs.
- Passive Rating Action: Withdrawals Outpace Downgrades◆
Tata Housing Development Company saw three NCD ratings withdrawn by CARE. While not a downgrade, this is a passive negative signal that can reduce investor confidence and market liquidity for those specific instruments. [SECTOR NEGATIVE for affected issuers]
- Capital Market Innovation: Early Redemptions and Call Options (SECTOR POSITIVE)◆
Share India Securities (NCDs) and Bank of India (Tier II bonds) actively used early redemption/call options, showing that issuers are managing their debt calendars dynamically to optimize capital costs or balance sheets.
Watch List (8)
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Watch for the actual redemption payment on Sep 30, 2026, for its 7.14% Tier II Bonds. Bondholders should check for any market pricing anomalies before the record date (Sep 15).
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Record date set for Sep 12. Monitor the redemption payment execution for its ₹500 Cr Tier II bond. A smooth execution will reinforce its credit standing.
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Track steel price trends and volume data for Q2 FY27 to see if the improved net leverage (1.93x) is maintained. Any slip could halt the positive rating momentum.
- Tata Housing Development / Future Rating Actions👁
After ratings were withdrawn on three NCDs, watch for any new issuances or rating assignments. The company's ability to issue new debt under its AA/Stable rating will be tested.
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The newly issued ₹100 Cr NCD (12.70% coupon, maturing 2030) will require consistent cash flow generation. Monitor its quarterly interest payments to assess credit quality.
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The early redemption of NCDs (9,990 units) will reduce future interest costs. Watch for any new debt issuance to replace this and its impact on the company's leverage ratio.
- JSW Paints / Debenture Trust Deed Extension👁
The amendment moving option dates from Sep to Oct 2026 (for NCDs up to ₹3,300 Cr) could signal a strategic postponement of a potential refinancing or redemption event. Watch for subsequent amendments.
- NeoGrowth Credit / Prepayment Behavior👁
Persistent early interest payments could signal strong liquidity or, conversely, weak demand for credit. Watch for any change in lending volume or asset quality in upcoming quarterly results.
Filing Analyses
(36)
03-09-2026
IGH Holdings Private Limited has redeemed a commercial paper (ISIN: INE02FN14937) on its maturity date of September 3, 2026. The commercial paper was originally issued on June 4, 2026, and has now been fully repaid. This is a routine debt servicing event with no financial figures disclosed.
- · Commercial paper issued on 04-June-2026 and redeemed on 03-September-2026.
- · Scrip code: 731809.
03-09-2026
Routine debt securities filing: We would like to inform you that the commercial paper issued on 04/06/2026 and listed on the bourses with the ISIN;INE09OL14JI5 have been redeemed/repaid on it maturity on 03-09-2026
03-09-2026
Inland Waterways Authority of India (IWAI) has made the half-yearly interest payment of ₹135403844 on its 'GoI Fully Serviced Bond-MoS Series-I' worth ₹340 crore, due on September 3, 2026. The payment was made on the due date via RTGS, and no default occurred. The bond is rated by CARE Ratings.
- · The bond has ISIN INE0G1B08019.
- · The payment was made via RTGS.
- · Disclosure was made on the stock exchange website and the company website (no default).
- · The bond is rated by CARE Ratings.
03-09-2026
Nuvama Wealth and Investment Limited has redeemed and paid the full amount due on a commercial paper (ISIN: INE523L14BV7) issued on August 3, 2026. The redemption was completed on September 3, 2026, fulfilling the company's obligation under the debt instrument.
- · The commercial paper was issued under offer document dated August 3, 2026.
- · ISIN of the redeemed commercial paper: INE523L14BV7.
- · Redemption date: September 3, 2026.
03-09-2026
OPG Power Generation Private Limited has fully redeemed 3,200 Senior, Secured, Listed, Rated, Redeemable, Non-Convertible Debentures (NCDs) of ₹1,00,000 each, aggregating to ₹32,00,00,000 (₹32 Crore), on August 18, 2026. The company has requested BSE to extinguish the corresponding ISIN (INEOD8F07048) and scrip code (975032), confirming no dues remain against the NCDs. NSDL and CDSL have processed the debit and deactivation of the ISIN as of August 25, 2026 and September 2, 2026, respectively.
- · The redemption date was August 18, 2026.
- · NSDL processed the debit of 1,401 debentures across 256 records on August 25, 2026.
- · CDSL processed the debit of 1,798 debentures across 499 records on September 2, 2026.
- · The company confirmed no dues are pending against the NCDs as of the filing date.
- · The corporate action letters from NSDL and CDSL are enclosed with the filing.
03-09-2026
Tata Steel Limited has fully redeemed its Commercial Paper (ISIN INE081A14HA0) of ₹1,900 crore on the due date of September 3, 2026. The redemption amount was paid in full on the same day, confirming the company's timely debt servicing.
- · The CP was allotted on June 5, 2026, with a maturity of approximately 3 months.
- · The redemption was intimated via a prior letter (SEC/874/2026-27) dated August 20, 2026.
- · The disclosure is made under SEBI Master Circular dated October 15, 2025.
03-09-2026
Routine debt securities filing: GREEN BOND - INTEREST PAYMENT - 5TH COUPON PAYMENT - SEP 2026
03-09-2026
Can Fin Homes Limited has confirmed the redemption of its Commercial Paper (ISIN: INE477A14EJ8) of Rs. 500 Crore, which was due on September 3, 2026. The payment has been made on the due date by crediting the amounts to the bank accounts of the respective CP-holders. The company has also filed the Corporate Action Forms for extinguishment of the securities with the depository.
- · The Commercial Paper issue was 7.33% CFHL CP 05 FY 27' with a face value of Rs. 500 Crore.
- · Record date for the redemption was August 28, 2026.
- · The redemption complies with SEBI Master Circular No. SEBI/HO/DDHS/DDHS PoD/P/CIR/2025/0000000137 dated October 15, 2025.
03-09-2026
Aadhar Housing Finance Limited has certified the timely full redemption of 2,000 commercial papers (ISIN INE883F14146) on the maturity date of September 3, 2026, for a principal amount of ₹100,00,00,000 (₹100 Crore). The outstanding amount post-redemption is nil, confirming the company's compliance with SEBI regulations.
- · The redemption was a full redemption on the scheduled maturity date (September 3, 2026).
- · No outstanding amount remains after the redemption.
- · The certificate was submitted to BSE Limited under SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021.
03-09-2026
Kotak Mahindra Prime Limited has informed BSE of the timely repayment of a listed Commercial Paper (ISIN INE916D147H6, BSE Scrip Code 732395) on its due date of September 3, 2026. The repayment covers the series LDD/2026-27/12843, confirming the company's compliance with SEBI listing requirements.
- · The Commercial Paper series is LDD/2026-27/12843 with BSE Scrip Code 732395.
- · The repayment was made on the due date of September 3, 2026.
- · The filing references SEBI Master Circular dated October 15, 2025 (SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137).
03-09-2026
Chennai Petroleum Corporation Limited has confirmed the full and timely payment of its commercial paper (ISIN INE178A14HS6) which matured on September 3, 2026. The payment obligation was duly fulfilled on the maturity date. This is a routine debt servicing disclosure with no indication of default or financial stress.
- · The commercial paper matured and was paid on September 3, 2026.
- · The scrip code for the instrument is 732031.
- · The filing was made under the Debt Securities category to BSE Limited.
03-09-2026
Share India Securities Limited announced that holders of its Series A and Series B Non-Convertible Debentures (NCDs) have approved the early redemption of 9,990 NCDs (5,000 Series A and 4,990 Series B) together with accrued interest, prior to their scheduled maturity. The approval was obtained at an adjourned meeting held on September 1, 2026. The early redemption will be carried out in accordance with the terms of the Debenture Trust Deed and applicable SEBI regulations.
- · The adjourned meeting was held on September 1, 2026, from 4:00 p.m. to 4:56 p.m.
- · The early redemption is prior to the scheduled maturity of the debentures.
- · The redemption will follow the Debenture Trust Deed dated June 20, 2025, and Key Information Document dated June 13, 2025.
03-09-2026
Kuantum Papers Limited has allotted 10,000 unlisted, unrated, senior, secured, redeemable, non-convertible debentures (NCDs) of face value ₹1,00,000 each, aggregating to ₹100,00,00,000 (₹100 Crore) on a private placement basis. The NCDs carry a coupon of 12.70% per annum (9.70% coupon + 3.00% redemption premium) and mature on 2 June 2030. The debentures are secured by a subservient charge on current and movable fixed assets, personal guarantees from promoters, and a shortfall undertaking from Kapedome Enterprises Limited, with a minimum security cover of 1.50x.
- · The NCDs are unlisted and not proposed to be listed on any stock exchange.
- · Coupon rate increases by 0.25% per notch downgrade from the previous rating.
- · Default charge of 2.00% per annum applies on delayed coupon/redemption payment.
- · Security includes personal guarantees from Mr. Jagesh Kumar Khaitan and Mr. Pavan Khaitan, and a shortfall undertaking from Kapedome Enterprises Limited.
- · Lien-marked fixed deposit equal to 5% of the debenture amount is maintained with a scheduled bank.
- · Minimum security cover of 1.50x must be maintained at all times.
- · The Finance Committee meeting was held on 3 September 2026 from 4:30 p.m. to 5:00 p.m.
03-09-2026
Kuantum Papers Limited has allotted 10,000 unlisted, unrated, senior, secured, redeemable, non-convertible debentures (NCDs) of face value ₹1,00,000 each on a private placement basis, aggregating to ₹100,00,00,000 (₹100 Crore). The NCDs carry a coupon of 12.70% per annum (9.70% monthly coupon plus 3.00% redemption premium) and mature on 2 June 2030. The debentures are secured by subservient charge over current and movable fixed assets, personal guarantees from promoters, and a shortfall undertaking from Kapedome Enterprises Limited, with a minimum security cover of 1.50x.
- · The NCDs are unlisted and not proposed to be listed on any stock exchange.
- · The Finance Committee meeting was held on 3 September 2026 from 4:30 p.m. to 5:00 p.m.
- · The security includes lien-marked fixed deposit equal to 5% of the debenture amount.
- · In case of default, a default charge of 2.00% per annum applies until rectification.
03-09-2026
Bajaj Finance Limited has redeemed a commercial paper of ₹1,025 crore on its maturity date of September 3, 2026, in compliance with SEBI regulations. The redemption was made on the due date in accordance with the terms of issuance.
- · ISIN: INE296A14H68
- · Scrip Code: 731821
- · Maturity Date: 03 September 2026
- · Actual Payment Date: 03 September 2026
- · Reference: SEBI Master Circular No. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated 15 October 2025
03-09-2026
Ratnaafin Capital Private Limited has confirmed timely payment of interest and partial redemption of principal for its Senior, Secured, Listed, Rated, Transferable, Redeemable, Non-Convertible Debentures (NCDs) due on September 6, 2026. An interest payment of ₹1,70,65,690 and a partial redemption of ₹3,12,50,000 were made on September 3, 2026, ahead of the due date. The outstanding principal amount after the partial redemption is ₹68,75,00,000.
- · Interest payment frequency is quarterly.
- · Last interest payment was made on June 4, 2026.
- · The interest payment record date was August 22, 2026.
- · Partial redemption was done by face value redemption as per the payment schedule in the Debenture Trust Deed.
- · No quantity of NCDs was redeemed (quantity redeemed: NIL).
03-09-2026
Vistaar Financial Services Private Limited has made timely payment of interest and partial redemption of principal on its Non-Convertible Debentures (ISIN INE016P07195) on September 03, 2026, one day before the due date of September 04, 2026. The company paid interest of ₹41,92,166.10 (after TDS of ₹4,65,796.23) and redeemed ₹6,25,00,000 of principal, leaving an outstanding amount of ₹12,50,00,000. Post-redemption, the face value per debenture is ₹16,666.67 and 7,500 debentures remain outstanding.
- · The interest payment was made one day early (September 03, 2026 vs due date September 04, 2026).
- · The redemption was a partial redemption by face value, described as 'Quarterly redemption'.
- · TDS of 10% was deducted on the interest amount before payment to debenture holders.
- · The last interest payment and last principal payment were both made on June 05, 2026.
- · 14 debenture holders received payments, with individual net amounts ranging from ₹8,89,228.87 to ₹1,86,73,806.51.
03-09-2026
Muthoot Mercantile Limited confirmed the timely payment of interest and full redemption of two series of listed, rated, secured Non-Convertible Debentures (NCDs) on September 3, 2026, one day before the due date of September 4, 2026. For ISIN INE05F407DH9, interest of ₹16,58,48,674.00 and redemption of ₹15,00,22,000.00 were paid; for ISIN INE05F407DK3, interest of ₹14,77,99,154.00 and redemption of ₹14,76,45,000.00 were paid. All outstanding amounts are now nil, reflecting the full discharge of these debt obligations.
- · Both NCD series were fully redeemed upon maturity, with no outstanding amount remaining.
- · Interest for ISIN INE05F407DK3 was paid monthly, with the previous interest payment date being 31/08/2026.
- · The filing was made under Regulation 57(1) of SEBI (LODR) Regulations, 2015.
03-09-2026
Bajaj Finance Limited confirmed the redemption of Commercial Paper with a stated issue size of ₹1,025 Crore on its maturity date, 03 September 2026. The actual payment date matched the maturity date, indicating timely repayment in accordance with the issuance terms and conditions.
- · Scrip code: 731821.
- · ISIN: INE296A14H68.
- · Maturity date and actual payment date were both 03 September 2026.
- · The disclosure referenced SEBI Master Circular No. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated 15 October 2025.
- · The Commercial Paper was redeemed in accordance with its issuance terms and conditions.
03-09-2026
Muthoot Mercantile Limited confirmed timely payment of interest and full redemption on two series of listed, rated, secured Non-Convertible Debentures (NCDs) due on 04/09/2026, with actual payments made on 03/09/2026. Total interest paid was ₹31,36,47,828.00 and total redemption amount was ₹29,76,67,000.00, covering 297,667 NCDs. No defaults or delays were reported, and outstanding amounts are nil for both series.
- · Interest payment record date for both series was 17/08/2026.
- · Due date for interest and redemption was 04/09/2026, but actual payment was made one day early on 03/09/2026.
- · Both NCD series were fully redeemed at maturity, with outstanding amounts reduced to nil.
- · For series INE05F407DK3, the previous month's interest payment date was 31/08/2026, indicating monthly frequency.
- · For series INE05F407DH9, interest was paid on maturity, and no previous month's interest payment was applicable.
03-09-2026
Bajaj Finance Limited confirmed the redemption of Commercial Paper with an issue size of ₹1,025 Crore on 03 September 2026. The Commercial Paper was redeemed on its scheduled maturity date and the actual payment date was also 03 September 2026, indicating timely repayment.
- · Scrip code: 731821
- · ISIN: INE296A14H68
- · Maturity date: 03 September 2026
- · Actual payment date: 03 September 2026
- · The disclosure referenced SEBI Master Circular No. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated 15 October 2025.
03-09-2026
Bajaj Finance Limited has redeemed a commercial paper (ISIN INE296A14H68) with an issue size of ₹1,025 crore on its maturity date of September 3, 2026, in compliance with SEBI regulations. The redemption was made on the due date as per the terms of issuance.
- · The commercial paper had ISIN INE296A14H68 and was redeemed on its maturity date of 03 September 2026.
- · The filing was made to BSE Limited in compliance with SEBI Master Circular SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated 15 October 2025.
03-09-2026
Bajaj Finance Limited confirmed the redemption of Commercial Paper with an issue size of ₹1,025 Crore (Cr) on its maturity date, 03 September 2026. The actual payment was also completed on 03 September 2026 in accordance with the issuance terms; no period-over-period performance data was provided.
- · Scrip code: 731821.
- · ISIN: INE296A14H68.
- · Maturity date and actual payment date were both 03 September 2026.
- · The disclosure cited SEBI Master Circular No. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated 15 October 2025.
03-09-2026
Bajaj Finance Limited confirmed the redemption of Commercial Paper with an issue size of ₹1,025 Crore (Cr) on its maturity date, 03 September 2026. The actual payment date matched the scheduled maturity date, indicating timely repayment; no delay, default, or adverse development was disclosed.
- · Scrip Code: 731821.
- · ISIN: INE296A14H68.
- · Maturity date and actual payment date were both 03 September 2026.
- · The disclosure referenced SEBI Master Circular No. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated 15 October 2025.
03-09-2026
Bajaj Finance Limited confirmed the redemption of Commercial Paper bearing ISIN INE296A14H68 and scrip code 731821, with an issue size of ₹1,025 Crore. The Commercial Paper was redeemed in full on its maturity date, 03 September 2026, with the actual payment also made on 03 September 2026.
- · Commercial Paper ISIN: INE296A14H68.
- · Scrip code: 731821.
- · Maturity date and actual payment date were both 03 September 2026.
- · The disclosure cited SEBI Master Circular No. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated 15 October 2025.
03-09-2026
Tata Housing Development Company Limited disclosed updated credit ratings for its listed Non-Convertible Debentures (NCDs) and Commercial Papers (CPs) as of September 3, 2026. CARE reaffirmed the 'CARE AA' rating with a 'Stable' outlook for one existing NCD and a yet-to-be-issued NCD of Rs. 1000 Crore, while three existing NCDs had their ratings withdrawn. All six listed CPs and a yet-to-be-issued CP received a reaffirmed 'CARE A1+' rating, and long-term/short-term bank facilities were reaffirmed at 'CARE AA; Stable / CARE A1+'.
- · Three existing NCDs (ISINs INE582L08045, INE582L08052, INE582L08060) had their CARE ratings withdrawn.
- · A yet-to-be-issued NCD of Rs. 1000 Crore received a 'CARE AA' rating with 'Stable' outlook.
- · All six listed Commercial Papers (ISINs INE582L14JH5, INE582L14JN3, INE582L14JO1, INE582L14JP8, INE582L14JQ6, INE582L14JR4) and one yet-to-be-issued CP received a reaffirmed 'CARE A1+' rating.
- · Long-term/short-term bank facilities were reaffirmed at 'CARE AA; Stable / CARE A1+'.
- · All credit ratings were verified by CARE on September 2, 2026, and the verification date is September 3, 2026.
03-09-2026
Tata Housing Development Company Limited disclosed updated credit ratings for its listed Non-Convertible Debentures (NCDs) and Commercial Papers (CPs) as of September 3, 2026. CARE reaffirmed the 'CARE AA' rating with a Stable outlook for its principal NCD (INE582L08078) and for a yet-to-be-issued NCD of Rs. 1000 Crore, while three other NCDs (INE582L08045, INE582L08052, INE582L08060) had their ratings withdrawn. All six listed Commercial Papers and the company's long-term/short-term bank facilities were reaffirmed at 'CARE A1+' and 'CARE AA/Stable; CARE A1+' respectively.
- · Three NCDs (INE582L08045, INE582L08052, INE582L08060) had their ratings withdrawn by CARE.
- · A yet-to-be-issued NCD of Rs. 1000 Crore received a 'CARE AA' rating with Stable outlook.
- · All six listed Commercial Papers (ISINs INE582L14JH5, INE582L14JN3, INE582L14JO1, INE582L14JP8, INE582L14JQ6, INE582L14JR4, INE582L14JS2) were reaffirmed at 'CARE A1+'.
- · Long-term/short-term bank facilities were reaffirmed at 'CARE AA; Stable / CARE A1+'.
- · Verification date for all credit ratings was March 9, 2026.
03-09-2026
THDC India Limited has confirmed the timely annual interest payment of ₹46,32,00,000 (including TDS) on its 7.72% Corporate Bonds Series–XI (ISIN: INE812V08052) on the due date of 03.09.2026. The bond issue size is ₹600 crore. This routine compliance filing under SEBI (LODR) Regulation 57(1) shows no delay or default.
- · Interest payment frequency: annually
- · Interest payment record date was 19.08.2026
- · No change in payment frequency reported
- · Reason for non-payment/delay: N.A.
03-09-2026
Motilal Oswal Financial Services Limited has made the annual interest payment of ₹15,72,50,000 on its Series (2024-25)/1 Non-Convertible Debentures (ISIN INE338I07172) on the due date of September 03, 2026. The payment was made on time with no delays or changes in frequency.
- · Interest payment record date was August 19, 2026.
- · Last interest payment was made on September 03, 2025.
- · The debentures are fully paid, secured, rated, redeemable, listed, senior bonds with a face value of ₹1,00,000 each.
03-09-2026
NeoGrowth Credit Private Limited has made timely interest payment of INR 81,66,884/- on its Non-Convertible Debentures (ISIN: INE814O07600) for the quarterly interest due on September 09, 2026. The payment was made early on September 03, 2026, with no defaults or delays reported. This is a routine regulatory compliance filing under SEBI Listing Obligations and Disclosure Requirements, indicating normal debt servicing.
- · Interest payment record date was 25/08/2026.
- · Interest is paid quarterly; no change in frequency.
- · No previous interest payment date mentioned (NA).
- · Reason for non-payment/delay is NA, confirming timely servicing.
03-09-2026
Bank of Maharashtra has informed the stock exchanges that it has fixed a record date of September 12, 2026 for the redemption payment of its Basel III Tier II bond (ISIN INE457A08035). The bond has a face value of ₹500.00 crore and a coupon rate of 9.20%, with the redemption payment due on September 27, 2026. This is a routine regulatory disclosure regarding the scheduled redemption of a debt instrument.
- · Record date: September 12, 2026
- · Redemption payment due date: September 27, 2026
- · Debenture trustee: Axis Trustee Services Limited
03-09-2026
JSW Paints Limited has amended its Debenture Trust Deed dated October 30, 2025 (as previously amended on July 06, 2026) for its listed Non-Convertible Debentures aggregating up to ₹3,300 crore. The amendment extends certain option dates from September 2026 to October 2026, specifically moving the reference date of '4 September 2026' to '5 October 2026' and '15 September 2026' to '15 October 2026'. All other terms and conditions of the Debenture Trust Deed remain unchanged.
- · The amendment letter was executed on September 03, 2026.
- · The original Debenture Trust Deed was dated October 30, 2025, with a prior amendment on July 06, 2026.
- · The amendment changes the Option Date - 1 reference from '4 September 2026' to '5 October 2026' in clauses 4.2(e)(i)(A) and 4.3(d)(i)(A).
- · The amendment changes the Option Date - 1 reference from '15 September 2026' to '15 October 2026' in clauses 4.2(e)(i)(B), 4.2(e)(i)(C), 4.3(d)(i)(B), 4.3(d)(i)(C), and paragraph 10(c)(i)(A) of Schedule 1.
- · The debentures are rated, listed, secured (secured by assets as described in the trust deed), and redeemable.
- · The debentures are denominated in INR with a nominal value of ₹1,00,000 each.
03-09-2026
Akara Capital Advisors Private Limited has confirmed timely payment of interest to bondholders for its listed debt securities (ISIN: INE08XP07225). The interest of ₹9,18,103.94 (after TDS) was paid on September 2, 2026, one day before the due date of September 3, 2026, covering the monthly interest period. No redemption payments were due or made.
- · Interest payment record date was August 19, 2026.
- · Last interest payment prior to this was made on August 1, 2026.
- · The interest frequency is monthly.
- · No change in frequency of payment was reported.
- · No redemption payments were due or made.
03-09-2026
India Ratings & Research upgraded JSW Steel Limited's issuer rating and its Non-Convertible Debentures to 'IND AA+' with a Stable Outlook, resolving the Rating Watch with Positive Implications. The upgrade was driven by a substantial cash inflow of ₹374 billion from the slump-sale of Bhushan Power & Steel's steel business to a JV with JFE Steel Corporation, which was used to reduce debt and improved net leverage to 1.93x in Q1 FY27 from 2.65x in FY26. While the company's operating performance improved with EBITDA per tonne rising 49% to ₹15,013 in Q1 FY27, the rating remains constrained by inherent industry cyclicality, volatile steel prices, and forex exposure.
- · JSWL's sales volume increased to 29.63 million tonnes in FY26 from 26.45mt in FY25, but Q1 FY27 volume was 7.11mt (including capacities under joint control).
- · VASP share remained flat at 61% in Q1 FY27 vs FY26 (FY25: 60%).
- · Captive iron ore integration was one-third as on 30 June 2026.
- · Forex debt accounted for about 64% of consolidated debt as on 31 March 2026.
- · JSWL had cash and equivalents of ₹212 billion and unutilised working capital lines of over ₹300 billion as on 30 June 2026.
- · The rating could be upgraded if net leverage falls below 1.5x on a sustained basis; downgraded if it exceeds 3.0x.
- · Safeguard duties of 11.5% on certain steel imports are effective until April 2027, and 11% until April 2028.
- · JSWL plans to commission three coking coal mines in India over the next two to three years, targeting 2mtpa of clean coking coal.
- · The company had a captive power generation capacity of around 2GW as on 31 March 2026 and renewable capacity of 1GW as of FY26, with an additional 1.5GW under development.
03-09-2026
Bank of India has notified the stock exchanges that it will exercise the Call Option on its 7.14% Tier II Bonds Series XV (ISIN INE084A08151), originally issued on September 30, 2021. The Record Date for determining bondholders eligible for payment is set as September 15, 2026, with the principal and broken-period interest to be paid on September 30, 2026, after which the bank's liability on these bonds will be extinguished.
- · The bonds were issued on September 30, 2021, under the terms of the Information Memorandum dated September 29, 2021.
- · The call option date is September 30, 2026.
- · The record date is September 15, 2026.
- · The bank's liability to bondholders will cease upon payment of the call option amount and broken period interest.
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