The stock exchanges -- BSE and NSE -- launched their electronic book platforms for issuance of debt securities worth over Rs 500 crore on private placement basis.
The platform -- BSE-BOND and NSE-EBP (Electronic Debt Bidding Platform) -- will facilitate online bidding for private placement of debt securities.
BSE did not attract any issue today, while NSE recorded its first deal with LIC Housing Finance raising around Rs 435 crore through the newly launched platform.
The bidding window was open for 30 minutes, NSE said in a circular.
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This initiative will help in the development of the corporate bond market and is aimed at enhancing transparency and efficiency in the price discovery in the debt private placement market.
It will be optional for the issues below Rs 500 crore, but the issuers will have to disclose coupon, yield, amount raised, number of investors and category of investors to the Electronic Book Provider or to the information repository for corporate debt market, in the format as specified by Sebi.