New record set on BSE; crosses listing of Rs 2 lakh crore of Commercial Papers
84 Issuers have done listing of 685 issuances of Commercial Paper worth Rs 2,05,532 Crore on the exchange
Mumbai: January 16, 2020: BSE, Asia’s oldest exchange and now world’s fastest exchange with the speed of 6 microseconds on November 26, 2019 announced the Framework for Listing of Commercial Paper (“CP”), enabling the listing on BSE for commercial papers issued on or after November 27, 2019. The same is in reference to SEBI Circular SEBI/HO/DDHS/DDHS/CIR/P/2019/115 dated October 22, 2019.
Housing Development Finance Corporation Limited, Tata Steel Limited, Reliance Jio Infocomm Limited, BASF India Limited & IIFL Wealth Finance Limited made an application to list their Commercial Papers at BSE for Issue Size of Rs. 3,650 Crores, Rs. 2,500 Crores, Rs. 1000 Crores, Rs. 300 Crores & Rs. 200 Crores respectively. Post process, the effective date of listing for the same at BSE is January 17, 2020.
Till date 84 Issuers have done 685 issuances of Commercial Papers and have successfully listed CPs of Rs. 2,05,532 Crores on BSE. The weighted average yield of these issuances is 6.52% with an average tenor of 148 days.
BSE is steering its efforts to help India Inc in raising funds. In F.Y. 2019-20, BSE’s Debt Platforms have enabled corporate India to list debt instruments worth Rs. 5,56,194 crores ($ 78.62 billion) as on (January 16, 2020). Of this, BSE has successfully raised Rs. 2,36,894 crores ($33.42 billion) with market share of around 60% via BSE BOND platform as on (January 15, 2020). This platform was launched in July 2016 and garnered fund raising of Rs. 9,43,376 crores ($ 133.09billion) since inception.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper , Oman Crude Oil Guar Gum , Guar Seeds & Turmeric .
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
Yatin Padia / Rahul Vyas
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