Raising Fund via BSE's e-book Debt Platform hits Rs 2 lakh crore

INDORE, India - March 24, 2017 - PRLog -- Indian companies have raised over Rs 2.00 lakh crore by issuing bonds on private placement basis on BSE's electronic book platform BSE BOND since its launch last July. Since then, 68 companies have come out with 383 bonds thereby successfully raised Rs 2,00,111 crore using BSE's debt platform, the BSE said in a statement.

It was on 22 March 2016 that HDFC Ltd and The Indian Renewable Energy Development Agency (IREDA)raised Rs 1,498 crore and Rs 200 crore respectively by issuing bonds on private placement basis, which has helped achieve the Rs 2 lakh crore milestone.

Some of the other companies that have raised funds through the BSE platform in the current financial year include National Thermal Power Corporation Limited (NTPC), Axis Bank, Power Finance Corporation, Rural Electrification Corporation Ltd (RECL), Yes Bank, National Highways Authority of India (NHAI), Indian Railway Finance Corporation (IRFC), housing and urban development corporation limited ( HUDCO) and National Bank for Agriculture and Rural Development (NABARD).

The funds have been mobilized from various sources such as banks, mutual funds, insurance companies, FPIs and corporates. The platform, which facilitates all categories of investors to place bids, lends hand to bring in precision and competence in price discovery for private placement of debt securities.

The e-book mechanism is mandatory for all private placement issues on debt basis exceeding Rs 500 crore, while it is optional for issues below Rs 500 crore, but the issuers will have to disclose coupon, yield, amount raised, number and category of investors to the E- book provider or the information repository for corporate debt market in the format as stipulated by the market regulator SEBI.

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