BSE's Bond platform helps India Inc raise over Rs 51,989 cr during lockdown

Stock exchange major BSE on Wednesday said that its Bond platform -- BSE BOND -- has helped India Inc to raise more than Rs 51,989 crore during lockdown period till April 20. According to the stock exchange major, this massive sum was raised via the issuance of commercial papers and corporate bonds via the platform.

The BSE in a statement said: "During lockdown period starting March 23, 2020 till April 20, 2020, BSE Bond platform... has raised funds worth Rs 2 6,666 cr from commercial papers via 27 corporates and Rs 25,323 cr from medium and long-term bonds via 18 corporates.

"The issuers included 6 public sector companies and 21 private sector companies for commercial papers and 3 public sector companies and 15 private sector companies for medium and long-term bonds."

At present, BSE Bond platform allows corporates to remotely set up their issues and open for subscription seamlessly. The investors are able to give their bids online and the settlement takes place in an automated way through Indian Clearing Corporation (ICCL).

As per the statement, for financial year 2019-20, the platform garnered fund raising for commercial papers amounting to Rs 433,480 crore by 116 Issuers and for bonds worth Rs 336,670 crores by 121 Issuers.

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"For financial year 2018-19, bonds worth Rs 3,10,939 crores were raised by 124 Issuers and financial year 2017-18 bonds worth Rs 2,03,932 crore were raised by 78 Issuers," the statement added.