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Tuesday, June 21, 2016

NSE to offer Electronic Book Mechanism for issuance of Debt Securities on private placement basis

NSE to offer Electronic Book Mechanism 
for issuance of Debt Securities on private placement basis

New platform will start operations from 01 July, 2016

India’s Capital Market regulator The Securities and Exchange Board of India (SEBI) has allowed India’s leading stock exchange, the National Stock Exchange of India Limited (NSE) to act as an Electronic Book Provider to facilitate electronic book mechanism for issuance of debt securities on private placement basis. This new mechanism is aimed at enhancing transparency to discover price.

This will be a bidding platform for issuance of debt securities on private placement basis. The salient features of this mechanism are to steamline procedures for issuance of debt securities on private placement basis and enhance transparency to discover prices. The new mechanism will be operationalized from July 01, 2016. It is a bidding platform and will not function as a trading platform.

Main beneficiaries of this mechanism will be issuers, arrangers, sub-arrangers, and participants.

The Electronic book mechanism will be mandatory for all private placements of debt securities in primary market with an issue size of Rs.500 crore and above, inclusive of Green shoe option, if any.
Presently the issuance of private placement has been made Offline.  The detailed guidelines on electronic book mechanism will be provided subsequently.   

About The National Stock Exchange of India (NSE):
In its 20 years of existence, NSE has transformed the capital market, based on technology, innovation, high standards of corporate governance and management practices. NSE's business practices and high level of integrity have earned it the trust of the financial markets worldwide. Besides being a platform of choice for all exchange traded financial products in India, NSE's flagship index, Nifty50 is used extensively by investors in India and around the world as a barometer of the Indian capital markets. Since inception, the exchange has been covered extensively by global media and has won many accolades in recognition of its contribution in reforming the Indian securities market. For more information, please visit: www.nseindia.com
For more details, contact:
Arindam Saha | Editor and Communication Head
Mobile: 09930019202 | 09903036100
Direct: 022 – 2659 8164

Twitter: @NSEIndia
NSE to offer Electronic Book Mechanism for issuance of Debt Securities on private placement basis Reviewed by S. Chitra on June 21, 2016 Rating: 5 NSE to offer Electronic Book Mechanism  for issuance of Debt Securities on private placement basis New platform will start operations fr...

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