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Indian Railway Finance Corp Raises Rs 1,580 Crore by Issuing Bonds on BSE's Book Mechanism Platform

Indian Railway Finance Corporation (IRFC) on Friday raised Rs 1,580 crore by issuing bonds on private placement basis using on BSE's BOND platform. This included greenshoe option of Rs 790 crore.

PTI

Updated:December 27, 2019, 5:04 PM IST
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Indian Railway Finance Corp Raises Rs 1,580 Crore by Issuing Bonds on BSE's Book Mechanism Platform
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New Delhi: Indian Railway Finance Corporation (IRFC) on Friday raised Rs 1,580 crore by issuing bonds on private placement basis using on BSE's electronic book mechanism platform. This included greenshoe 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 CEO and MD 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 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.

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