By K Ashwin Mobile: 09920183006 Email:firstname.lastname@example.org
National Stock Exchange of India Limited (NSE), India’s leading stock exchange, through its Electronic Bidding Platform, NSE- EBP, facilitated the INR 2000 crores debt fund-raising program for India’s leading bank, the State Bank of India. This Debt program will help meet SBI’s Tier 1 capital requirement for the current financial year.
By Vivek K. Mobile: 09920183006 Email:email@example.com
Mr. Shashwat Belapurkar, CEO, JM Financial Credit Solutions Limited, said, “We are overwhelmed by the response to JM Financial Credit Solutions Ltd.’s maiden Public Issue of NCDs, which also has the distinction of being the first from the JM Financial Group. Overall, the Public Issue of NCDs (including Greenshoe Option) was oversubscribed 2.19 times leading to a total subscription of Rs. 1,646 crore. Retail Investors (Category IV) and HNIs (Category III) have invested a total amount of around Rs. 1,468 crore, which is more than total NCD Issue size of Rs. 750 crore (including Greenshoe Option). The oversubscription of over 3.6 times in the Retail Investors category justifies our higher proportion of 30% allocation ratio to Retail Investors in the basis of allotment. The success of our NCD Public Issue sets a new benchmark for a wholesale NBFC such as JMFCSL that provides integrated financial solutions to real estate developers with a focus on residential project financing. This is a testimony to the success of the transformational changes in the real estate sector and will further deepen the Indian debt markets inviting meaningful long term wider public participation in debt offerings from wholesale NBFCs.” Read more