Indian Railway Finance Corporation Garners Rs 1,580 Crore On BSE BOND Platform
Indian two thousand and five hundred rupee banknotes are arranged for a photograph in Mumbai. (Photographer Dhiraj Singh/Bloomberg)

Indian Railway Finance Corporation Garners Rs 1,580 Crore On BSE BOND Platform

Bookmark

Indian Railway Finance Corporation on Friday raised Rs 1,580 crore by issuing bonds on private placement basis using on BSE's electronic book mechanism platform.

This included green shoe option of Rs 790 crore, the exchange said in a statement.

In total, 37 bids worth Rs 1,720 crore were received on BSE BOND platform.

BSE Chief Executive Officer and Managing Director Ashishkumar Chauhan said that the exchange firmly believes that Indian bond market is tapping ample potential for sizeable growth and India is parking its domestic savings in the most judicious manner.

"We thank all the participants including BSE Team for smooth and seamless execution of the maiden ETF (exchange-traded fund) issue," said Amitabh Banerjee, MD at IRFC.

The BSE BOND platform was launched on July 1, 2016 to facilitate online bidding for private placement of debt securities. Since then, companies have garnered over Rs 9.27 lakh crore through the exchange mechanism.

Also read: How To Sign Up For BloombergQuint Story Notifications

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.