Corporates raise nearly Rs 52,000 crore from BSE Bond platform during lockdown

Corporate including some public sector companies raised nearly Rs 52,000 crore from BSE Bond platform during the coronavirus caused lockdown period.

“BSE Bond platform, the premier debt raising platform of India has raised funds worth Rs 26,666 crore from commercial papers via 27 corporates and Rs 25,323 crore from medium and long term bonds via 18 corporates,” said the BSE.

Advertisement

The BSE said issuers included six public sector companies and 21 private sector firms for commercial papers, and three public sector companies and 15 private sector firms for medium and long term bonds.

BSE Bond platform allows corporates to remotely set up their issues and open for subscription seamlessly. The investors can give their bids online and the settlement takes place in an automated way through Indian Clearing Corporation (ICCL).

During financial year 2019-20, the platform garnered fundraising for commercial papers amounting to Rs 433,480 crore by 116 issuers and for bonds worth Rs 336,670 crores by 121 issuers, said the BSE.

The BSE Bond platform was launched on 1 July 2016, to facilitate online bidding for private placement of debt securities.

The platform, which allows all categories of investors to place bids, helps bring in transparency and efficiency in price discovery for private placement of debt securities.