APCRDA garners Rs 2,000-cr on BSE BOND platform

Andhra Pradesh Capital Region Development Authority (APCRDA)has raised Rs 2,000 crore by way of issuance of bonds on private placement basis on BSE's electronic book mechanism platform.

The platform was launched on July 1, 2016 to facilitate online bidding for private placement of debt securities. Since then, 120 issuers have garnered Rs 4.86 lakh crore through the exchange mechanism.

"On August 14, 2018, APCRDA successfully raised Rs 2,000 crore by issuing bonds on private placement basis using BSE BOND platform," the exchange said in a statement.

The platform, which allows all categories of investors to place bids, helps bring in transparency and efficiency in price discovery for private placement of debt securities.

"Amaravati Bond 2018 has created history by over subscription raising Rs 2,000 crore and is the testimony of investors' confidence in Andhra Pradesh and Amaravati.

"This will help in developing Amaravati as smart, sustainable and happy city and as a global destination of people, jobs and investments," Andhra Pradesh Chief Minister N Chandrababu Naidu said.

So far this financial year (till July), BSE has listed 611 instruments with an amount totalling Rs 89,595 crore. In 2017-18, 1,996 bonds got listed on the exchange by raising Rs 4.29 lakh crore, while the same was 2,353 instruments with an amount of Rs 4.2 lakh crore in 2016-17.