22 firms issue commercial papers on BSE worth Rs 23,330 cr

Bombay Stock Exchange (BSE) is emerging as the preferred platform for a host of corporates, including Standard Chartered Investments and Loans (India), Aditya Birla Housing Finance and Balrampur Chini Mills, for raising loans, with the companies issuing commercial papers (CPs) worth Rs 23,330 crore on the BSE.

According to the exchange, Standard Chartered Investments and Loans, Aditya Birla Housing Finance Ltd, Balrampur Chini Mills Ltd, Axis Finance Ltd, KEC International Ltd and Siyaram Silk Mills have listed their commercial papers, adding up to 22 issuers having listed 58 CP issuances worth Rs 23,330 crore on BSE.

Asia's oldest exchange, the BSE has said that Standard Chartered Investments and Loans, Aditya Birla Housing Finance, Balrampur Chini Mills, Axis Finance, KEC International and Siyaram Silk Mills Ltd have applied for listing CPs on the BSE with issue size of Rs 390 crore, Rs 250 crore, Rs 200 crore, Rs 175 crore, Rs 100 crore and Rs 45 crore, respectively.

Post processing, the effective date of listing on the BSE is December 26, 2019.

Till date, 22 issuers have made 58 issuances of CPs worth Rs 23,330 crore on BSE, the weighted average yield of which is 5.44 per cent with an average tenor of 111 days.

BSE is making efforts to help India Inc raise funds. In 2019-20, BSE's debt platforms have enabled corporate India to list debt instruments worth Rs 3,39,108.51 crore ($ 47.60 billion) as on December 24, 2019.

Of this, BSE has successfully raised Rs 2,20,442 crore ($30.94 billion) with a market share of around 60 per cent via the BSE Bond platform (as on December 24, 2019).

This platform was launched in July 2016 and has raised funds worth Rs 9,26,925 crore ($130.11 billion) since inception.

-IANS