Firms raise `78,000 crore via bonds on BSE e-book platform
Companies have raised nearly Rs 78,000 crore through issuance of debt securities on private placement basis on BSE’s electronic book mechanism in less than four months since the launch of platform. The platform -- BSE-BOND -- was launched on July 1 to facilitate online bidding for private placement of debt securities.
Since then, 35 companies have raised Rs 77,955 crore through the exchange mechanism. “The BSE platform for bond issuances has been a preferred choice for companies to raise debt capital in India... Till October 17, 2016, 35 issuers have done 148 issues of bonds and have successfully raised Rs 77,955 crore using the BSE debt platform,” the exchange said in a statement.
Individually, Axis Bank garnered Rs 5,000 crore and Power Finance Corporation mopped up Rs 4,335 crore by issuing bonds through private placement on the BSE BOND platform. Besides, Energy Efficiency Services and the National Bank for Agriculture and Rural Development (Nabard) raked in Rs 500 crore each. The funds have been raised from various sources, including banks, mutual funds, insurance companies.