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12 firms to list commercial papers for Rs 8,215 cr issue size: BSE

CPs are usually issued at a discount from face value and reflect prevailing market interest rates

Press Trust of India  |  New Delhi 

BSE, Bombay stock exchange
After the process, the effective date for listing of commercial papers (CPs) at the BSE is December 31, the BSE said in a release.

As many as 12 have filed applications with the to list their commercial papers on the bourse for a total issue size of Rs 8,215 crore, the exchange said on Monday.

The firms that have made applications are SBI Cards and Payment Services Ltd, Birla Group Holdings Pvt Ltd, National Housing Bank, Ltd, Larsen & Toubro Ltd, SBI Cards and Payment Services Ltd, BASF India Ltd, The Ramco Cements Ltd, Aarti Industries Ltd, HT Media Ltd, GIC Housing Finance Ltd and Himadri Speciality Chemical Ltd.

After the process, the effective date for listing of commercial papers (CPs) at the is December 31, the said in a release.

"Till date, 50 issuers have done 182 issuances of commercial papers and have successfully listed CPs of Rs 70,210 crore on the BSE. The weighted average yield of these issuances is 6.42 per cent with an average tenor of 161 days," it added.

A CP is an unsecured money market instrument issued in the form of promissory notes that enables highly rated corporate borrowers to diversify their sources of short-term borrowings and provides an additional instrument to investors.

Such instruments can be issued for maturities between a minimum of 7 days and a maximum of one year from the date of issue.

CPs are usually issued at a discount from face value and reflect prevailing market interest rates.

First Published: Mon, December 30 2019. 19:00 IST
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