*Media Release*
*Aditya Birla Finance Limited becomes the first company to raise their Commercial Paper worth Rs.100Crs. on BSE after Sebi guidelines were issued*
*Mumbai: November 28, 2019:* BSE, Asia’s oldest exchange and now world’s fastest exchange with the speed of 6 microseconds on 26st November 2019 announced the Framework for Listing of Commercial Paper, 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.
BSE is steering its efforts to help India Inc in raising funds. BSE Bond platform was launched in July 2016 and garnered fund raising of Rs. 8,83,429 crores since inception. In this financial year 2019-20 BSE has successfully raised Rs. 1,76,947 crores with market share of around 63%
In this continuous endeavour to assist Corporate India, BSE successfully enabled listing of commercial paper of Aditya Birla Finance today in accordance with latest SEBI guidelines.
On November 28, 2019, Aditya Birla Finance Limited made an application to list their Commercial Paper at BSE. Post process, the effective date of listing for the same at BSE is November 29, 2019.
Aditya Birla Finance Limited (ABFL), the lending subsidiary of Aditya Birla Capital Limited is the first company to list its Commercial Paper on BSE with value date of 28th November, 2019 and maturity date on February 7, 2020. ABFL is a well-diversified non-banking finance company (NBFC) with a long-term credit rating of AAA (Stable) from both ICRA as well as India Ratings.
Speaking on this occasion *Shri Ashishkumar Chauhan, MD & CEO, BSE* said, "We are glad that Aditya Birla Finance Limited was able to list their Commercial Paper successfully at BSE. BSE firmly believes that Indian Capital Market is poised for a substantial growth”
*Mr. Rakesh Singh, MD & CEO Aditya Birla Finance Limited* said, “SEBI’s announcement to list Commercial Papers is a welcome move for the industry as it will encourage further transparency and better corporate governance practices. We are glad to announce that ABFL is taking a thought leadership position in the market by being the first company to list its Commercial Paper in order to reinstate faith in the system. Trust in the system can only be restored with complete transparency. Through this pioneering move, we aim to set standards for Commercial Paper issuance which will bring in liquidity, transparency and thereby create trust in the minds of investors. We always strive to set a benchmark in whatever we do.”
*About Aditya Birla Finance Limited, an Aditya Birla Capital Company*
Aditya Birla Finance Limited ("ABFL"), the lending subsidiary of Aditya Birla Capital Limited is among the leading well-diversified financial services company in India. ABFL offers customized solutions in areas of personal finance, mortgage finance, SME finance, corporate finance, wealth management, debt capital markets and loan syndication. ABFL is registered with RBI as a non-deposit accepting non-banking finance company ("NBFC") and ranks amongst largest and diversified NBFCs in India (based on AUM).
For the Quarter ended 30th September 2019, ABFL’s loan book has reached Rs. 483.68 billion. Along with its growth, ABFL has maintained healthy asset quality with Gross Stage 3 Excl. IL&FS at 1.39% and Incl IL&FS at 1.85% as of 30th September 2019. This is reflected in its long-term credit rating of AAA (Stable) by ICRA and India Ratings, Perpetual debt credit rating of AA+ (Stable) by ICRA and India Ratings (Stable) and short-term credit rating of A1+ by ICRA & India Ratings.
Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group.
ABCL’s subsidiaries have a strong presence across Protecting, Investing and Financing solutions, ABCL is a universal financial solutions group catering to diverse needs of its customers across their life stages. Powered by more than 20,000 employees, the subsidiaries of ABCL have a nationwide reach with 850+ branches and more than 2,00,000 agents / channel partners and several bank partners.
As of September 30th, 2019, Aditya Birla Capital Limited manages aggregate assets under management over Rs. 3000 billion and has a consolidated lending book of Rs. 605 billion, through its subsidiaries and joint ventures.
Aditya Birla Capital Limited is a part of the Aditya Birla Group, a US$ 48.3 billion Indian multinational, in the league of Fortune 500. Anchored by an extraordinary force of over 120,000 employees, belonging to 42 nationalities, the Aditya Birla Group operates in 34 countries across the globe.
www.adityabirlacapital.com/abfl
*About BSE*
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.
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