Mumbai, April 5, 2018: BSE, Asia’s oldest and now world’s fastest stock exchange with the speed of 6 microseconds, on 1st July 2016 had launched the platform for Electronic Book Mechanism “BSE BOND” for issuance of debt securities on private placement basis.
On April 4, 2018 Reliance Commercial Finance Limited (“RCFL”) successfully raised Rs.500 crores by issuing bonds on private placement basis using the new BSE BOND platform. This is the maiden issue on BSE BOND platform after the rollout of new SEBI Circular no. SEBI/HO/DDHS/CIR/P/2018/05 issued by SEBI on January 5, 2018 effective from April 1, 2018.
Since inception, an amount of Rs 4,24,083 crores has been raised on BSE Bond platform. In the Financial Year 2017-18, the exchange witnessed 532 issues of bonds by 84 issuers raising Rs. 2,08,906 crores using BSE Bond platforms. This demonstrates that BSE platform for bond issuances has achieved an overwhelming market share and has become the preferred choice for companies to raise Debt Capital in India.
Speaking on this occasion Shri Ashishkumar Chauhan, MD & CEO, BSE said, “I am delighted that Reliance Commercial Finance Limited was able to raise Rs. 500 crores successfully using the new BSE BOND platform. BSE is the market leading platform for bond raising in India with an overwhelming market share of 61%. BSE firmly believes that Indian primary Bond Market is poised for substantial growth; India can use its domestic savings to fund its finance needs in a substantive manner.”
“We are delighted that in keeping with the Reliance Group’s tradition of being involved with many firsts in India’s capital markets, Reliance Commercial Finance has become the first company today to issue bonds on the BSE BOND. We are seeing a steady growth in our SME and retail financing business, and the proceeds from this private placement will help fund future growth,” said Shri Devang Modi, Executive Director & CEO, Reliance Commercial Finance.
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