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First debt security at IFSC: BSE's India INX lists IRFC green bonds

IRFC had last year raised $500 million from 10-year green bond from investors in Asia, Europe, US

Press Trust of India  |  Mumbai 

S Ravi, BSE, B N Mohapatra, IRFC, Piyush Goyal,  Ashishkumar Chauhan
(From left) S Ravi, chairman, BSE, Piyush Goyal, Minister of Railways and Coal, B N Mohapatra, chairman, IRFC, and Ashishkumar Chauhan, MD & CEO, BSE, at the listing ceremony of IRFC Green Bond in Mumbai on Saturday. Photo: Kamlesh Pednekar

The BSE’s International Exchange (INX) on Saturday listed the Indian Railway Corporation’s (IRFC’s) green bonds on its debt listing platform — the market.

With this, the IRFC’s green bonds have become the first debt to be listed on an exchange at (IFSC) in Gujarat’s GIFT city. had last year raised $500 million from the 10-year green from investors in Asia, and offshore US through listing on the (LSE).

Listing the on at an event organised by the BSE, said, “India is the fastest-growing economy in the world and our need to raise funds is a continuous process.”

“To have a platform to tap global investors by issuing bonds in any currency is the first of its kind in India and India as India’s first international exchange at GIFT city, Gandhinagar, has yet again been a pioneer in this.

“In a country like ours, this will make global investors and funds more accessible to Indian and foreign issuers at a fraction of cost that is being incurred today by issuers,” he added. The bonds have an annual yield of 3.835 per cent.

“We are excited to be the first issuer to list on BSE’s Such a listing platform from India will now help us tap global investors from India going forward,” B N Mohapatra said. India INX’s Market (GSM) segment, India’s first debt listing platform, allows raising funds in any currency of choice by both foreign and Indian issuers from investors across the globe.

First Published: Sat, January 13 2018. 23:12 IST