BSE BOND platform for issuance of debt securities on private placement basis has been launched on July 01, 2016 helping issuers to raise debt. It is a user friendly system aimed to help the market participants for better price discovery and transparency in the overall process of fund raising.
As per SEBI circular CIR/IMD/DF1/48/2016 dated 21 April, 2016 electronic book mechanism would be mandatory for all private placements of debt securities in primary market with an issue size of Rs 500 crores and above, inclusive of green shoe option, if any. However, issuers have the option to use the electronic book mechanism for private placement of debt securities in primary market even if the issue size is less than 500 crores.
Participants like Issuers, arrangers, sub-arrangers and Qualified Institutional Investors can participate directly on the platform. Issuers have to enter into an agreement for using the BSE BOND platform. Investors and arrangers can register online on the platform. Post registration, the access credentials will be shared with the authorised personnel of the participants.
Operating Guidelines :
|FAQ on Electronic Book Mechanism for Debt Securities
|Circular for Electronic Book Mechanism for private placement of debt securities
|Launch of Electronic Bidding Mechanism for issuance of Debt securities on Private Placement – "BSE-BOND"