Cos raise Rs 1.52 lakh cr via bonds on BSE e-book platform

PFC today raised Rs 2,551 crore by issuing bonds on private placement basis on BSE's electronic book mechanism, taking the total fund raising by companies to Rs 1.52 lakh crore since the launch of this platform last July.
The BSE-BOND was launched on July 1 to facilitate online bidding for private placement of debt securities. Since then, 53 companies have raised Rs 1,51,865 crore through it.
"Today on February 13, 2017, Power Finance Corporation successfully raised Rs 2,551 crore by issuing bonds on private placement basis using BSE BOND platform... Till today 53 issuers have done 294 issues of bonds and have successfully raised Rs 1,51,865 crore using BSE debt platforms," BSE said in a statement.

Some of the firms that garnered funds through the platform include NTPC, Axis Bank, HDFC, Power Finance Corporation, REC, Yes Bank, NHAI, IRFC, HUDCO and NABARD.
The funds have been raised from various sources including banks, mutual funds, insurance companies, foreign portfolio investors and corporates.
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.
The electronic book mechanism is mandatory for all private placement issues, on debt basis, for more than Rs 500 crore.
It is optional for issues below Rs 500 crore, but the issuers will have to disclose coupon, yield, amount raised, number of investors and category of investors to the electronic book provider or the information repository for corporate debt market in the format as specified by regulator Sebi.