Dealers against Sebi's latest curb proposals on corp bonds' e-mechanism

Sebi wants the e-platform to be mandatory for issuance over Rs 50 cr, against Rs 500 cr earlier

Bond arrangers and merchant bankers are largely against the sweeping changes proposed by the capital market regulator, Securities and Exchange Board of India (Sebi), in electronic book-building mechanism for corporate bonds.
 
The regulator on May 22 came up with a consultation paper that proposes, among other things, making it mandatory for using the electronic platform for bond issuance of over Rs 50 crore, from Rs 500 crore earlier, making it mandatory for qualified institutional buyers to bid directly on the platform for anything above Rs 10 crore, directing merchant bankers to disclose the names of their investors taking the