Companies raise Rs6,900 crore on BSE Bond platform under Sebi’s new norm1 min read . Updated: 17 Apr 2018, 05:47 PM IST
Sebi has made electronic platform mandatory for all private placement issues on debt basis that have a threshold of Rs200 crore to achieve transparent price discovery through the bidding process
New Delhi:Indian companies have raised Rs6,900 crore by issuing bonds through private placement on BSE’s electronic book mechanism since Sebi’s new guidelines came into effect from 1 April.
Under the new norms, Sebi has made electronic platform mandatory for all private placement issues on debt basis that have a threshold of Rs200 crore, a move aimed at achieving better and transparent price discovery through the bidding process.
Prior to that, the mechanism was mandatory for all private placements of debt securities with an issue size of Rs500 crore or more.
Till date, five issuers have come up with seven issues of bonds and successfully raised Rs6,900 crore on BSE Bond platform after the rollout of new norms, the exchange said in a statement issued on Tuesday.
Among the issuers were, Reliance Jio Infocomm and Dewan Housing Finance Corporation that have opted for the route to garner funds.
In 2017-18, 84 issuers raised Rs2,08,906 crore through 532 issues of bonds using the platform.