Mumbai: BSE, Asia’s oldest exchange and now world’s fastest stock exchange with the speed of 6 microseconds, on 1st July 2016 had launched the platform for Electronic Book Mechanism “BSE BOND” for issuance of debt securities on private placement basis.
Air India Assets Holding Limited successfully raised Rs. 7000 crores by issuing bonds on private placement basis using BSE BOND platform on September 16, 2019. The total of Rs 20,830 crores worth of bids were received on BSE BOND Platform which is the highest ever bids received for yield based bidding.
Speaking on this occasion Shri Ashishkumar Chauhan, CEO & MD BSE said, "I am delighted that Air India Assets Holding Company Ltd. (AIAHL) is able to raise Rs. 7000 crores successfully using BSE BOND platform, a market leading platform for bond raising in India. BSE 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.”
BSE has been a market leader for bond issuances and also the BSE’s platforms have been a preferred choice for companies to raise Debt Capital in India. Since inception dated July 1, 2016; 189 Issuers have done 1,801 issues of bonds and have successfully raised Rs. 8,84,567 crores using BSE Debt platforms. Some of the esteemed issuers include PFC, RECL, IRFC, PGCI, NHAI, Axis Bank, PGCI, NABARD, HUDCO, Yes Bank, Reliance Industries Limited, Reliance Jio Infocomm, etc
Mr. Ashwani Lohani, Chairman, Air India Assets Holding Company Ltd.(AIAHL) and CMD, Air India Limited said: “Very happy at the overwhelming response to the Air India Assets Holding Limited Bond issue fully backed by Government of India.
“It is also very heartening to note that the entire issue was subscribed at a very attractive rate by 6.99%. This reflects the confidence of the entire market in securities fully backed by Government of India. The positive response received from all categories of Investors will act as a stimulus to the disinvestment process of Air India Limited”.
Mr. Vinod Hejmadi, Director, Air India Assets holding Company Limited (AIAHL) and Director Finance, Air India Limited said: “The issue was oversubscribed by 20.83 times despite the volatile market conditions today. It was the record largest mobilization of funds for yield based bidding in the history of BSE’s Electronic Bidding Platform.
“The issue was executed smoothly, efficiently and in a transparent manner on the BSE Electronic Bidding Platform. We are also thankful to the BSE team for guiding us throughout the process. We are thankful to SBI Capital Markets Limited, the sole advisor to the issue for the grand success and excellent support. We are also thankful to the Legal Advisors Mr.Kini & Co., IDBI Trustees and the entire team of arrangers and bankers for the grand success of the issue.”