Aditya Birla Finance becomes first company to list Commercial Paper on NSE
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Date: 28-Nov-2019
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Economic Times Economic Times
Aditya Birla Finance lists commercial papers on NSE, BSE
ABFL listed its CPs on NSE with a value date of November 28, 2019 and maturity date on February 7, 2020.
PTI| 28 November 2019
Mumbai: National Stock Exchange of India (NSE) on Thursday said non-banking financial company Aditya Birla Finance (ABFL) became the first company to list commercial papers (CP) on its platform. The commercial papers were also listed on BSE.
ABFL listed its CPs on NSE with a value date of November 28, 2019 and maturity date on February 7, 2020.
"Trust in the system can only be restored with complete transparency. Through this pioneering move, we aim to set standards for commercial paper issuance which will bring in liquidity, transparency and thereby create trust in the minds of investors," Aditya Birla Finance managing director and CEO, Rakesh Singh, said in a statement.
In October, the capital markets regulator Securities and Exchange Board of India (Sebi) asked exchanges to put in place a necessary framework for systems and procedures for listing of commercial papers.
Under the guidelines, an issuer who desires to list its CPs needs to send an application for listing along with the specified disclosures to stock exchanges.
Companies, NBFCs, other entities with a net worth of at least Rs 100 crore and any other security specifically allowed by Reserve Bank of India (RBI) are eligible to list commercial papers.
"We are hopeful that this will enhance transparency and enable efficient information dissemination to investors leading to deepening of investments in money market instruments," NSE's head (listing) Ishita Vora said.
Business Standard
Aditya Birla Finance becomes first NBFC to list commercial paper on bourses
ABFL is a diversified non-banking finance company with a long-term credit rating of AAA (Stable) from both Icra as well as India Ratings PTI|29 November 2019
Non-bank lender Aditya Birla Finance on Thursday became the first company to list its commercial papers borrowing of Rs 100 crore on the bourses.
The Kumarmangalam Birla-led company listed its CPs on NSE with a value date of November 28, 2019 and maturity date on February 7, 2020 on BSE and NSE, both the bourses said in separate statements.
"Trust in the system can only be restored with complete transparency. Through this pioneering move, we aim to set standards for commercial paper issuance which will bring in liquidity, transparency and thereby create trust in the minds of investors," Aditya Birla Finance managing director and CEO, Rakesh Singh, said in a statement.
In October, the capital markets regulator Securities and Exchange Board of India (Sebi) asked exchanges to put in place a necessary framework for systems and procedures for listing of commercial papers.
Under the guidelines, an issuer who desires to list its CPs needs to send an application for listing along with the specified disclosures to stock exchanges.
Companies, NBFCs, other entities with a net worth of at least Rs 100 crore and any other security specifically allowed by Reserve Bank of India (RBI) are eligible to list commercial papers.
ABFL is a diversified non-banking finance company (NBFC) with a long-term credit rating of AAA (Stable) from both Icra as well as India Ratings.
"We are hopeful that this will enhance transparency and enable efficient information dissemination to investors leading to deepening of investments in money market instruments," NSE's head (listing) Ishita Vora said.
Devdiscoure
Aditya Birla Finance lists commercial papers on NSE
PTI| 28 November 2019
National Stock Exchange of India (NSE) on Thursday said non-banking financial company Aditya Birla Finance (ABFL) became the first company to list commercial papers (CP) on its platform. ABFL listed its CPs on NSE with a value date of November 28, 2019 and maturity date on February 7, 2020.
"Trust in the system can only be restored with complete transparency. Through this pioneering move, we aim to set standards for commercial paper issuance which will bring in liquidity, transparency and thereby create trust in the minds of investors," Aditya Birla Finance managing director and CEO, Rakesh Singh, said in a statement.
In October, the capital markets regulator Securities and Exchange Board of India (Sebi) asked exchanges to put in place a necessary framework for systems and procedures for listing of commercial papers.
Under the guidelines, an issuer who desires to list its CPs needs to send an application for listing along with the specified disclosures to stock exchanges. Companies, NBFCs, other entities with a net worth of at least Rs 100 crore and any other security specifically allowed by Reserve Bank of India (RBI) are eligible to list commercial papers.
"We are hopeful that this will enhance transparency and enable efficient information dissemination to investors leading to deepening of investments in money market instruments," NSE's head (listing) Ishita Vora said..
Bloomberg Quint
Aditya Birla Finance becomes first firm to list Commercial Paper on NSE
Sai Ishwarbharath|28 November 2019
Aditya Birla Finance Ltd. became the first company to list a commercial paper on the National Stock Exchange. The paper will mature in February next year.
The move will help commercial paper issuers make appropriate disclosures on a continuous basis and will lead to deepening of the debt markets in the country, the company’s statement said.
The debt instrument issued by Aditya Birla Capital Ltd.’s lending arm is expected to mature on Feb. 7, 2020, the statement said. The Rs 100-crore commercial paper yields 5.38 percent interest, Bloomberg reported citing an unnamed source.
“SEBI’s announcement to list commercial papers is a welcome move for the industry as it will encourage further transparency and better corporate governance practice. We aim to set standards for commercial paper issuance which will bring in liquidity, transparency and thereby create trust in the minds of investors” said Rakesh Singh, Chief Executive Officer, and Aditya Birla Finance
The move comes just a day after Bombay Stock Exchange and NSE came out with a framework for listing of commercial papers issued on or after Nov. 27, a move aimed at broadening investors’ participation in such securities.
New Indian Express
Aditya Birla Finance becomes first company to list commercial papers on exchanges
In separate statements, the exchanges said Aditya Birla Finance is the first company to list its commercial paper with value date of November 28 and maturity date on February 7, 2020. PTI|29 November 2019
Aditya Birla Finance Ltd (ABFL), the NBFC arm of Aditya Birla Capital, on Thursday became the first company to list its commercial papers on the stock exchanges.
The move comes after the exchanges -- the BSE and the NSE -- came out with a framework for listing of commercial papers (CPs), in a bid to broaden investors' participation in such securities.
Listing of CPs is expected to lead to efficient transmission of information regarding corporate borrowings and liquidity positions to market participants, the NSE said in a statement.
It will also contribute effectively towards the development of the commercial paper market and is expected to have a positive effect on the debt capital market, it added.
In separate statements, the exchanges said Aditya Birla Finance is the first company to list its commercial paper with value date of November 28 and maturity date on February 7, 2020. ABFL is a well-diversified non-banking finance company (NBFC) with a long-term credit rating of AAA (stable) from both ICRA as well as India Ratings.
CP is an unsecured money market instrument issued in the form of promissory notes that enables highly rated corporate borrowers to diversify their sources of short-term borrowings and provides an additional instrument to investors.
Commercial papers can be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue. CP are usually issued at a discount from face value and reflects prevailing market interest rates.
News18
Aditya Birla Finance Becomes First Company to List Commercial Papers on Exchanges
The move comes after the exchanges — the BSE and the NSE — came out with a framework for listing of commercial papers (CPs), in a bid to broaden investors' participation in such securities.
PTI|28 November 2019
Aditya Birla Finance Ltd (ABFL), the NBFC arm of Aditya Birla Capital, on Thursday became the first company to list its commercial papers on the stock exchanges.
The move comes after the exchanges — the BSE and the NSE — came out with a framework for listing of commercial papers (CPs), in a bid to broaden investors' participation in such securities.
Listing of CPs is expected to lead to efficient transmission of information regarding corporate borrowings and liquidity positions to market participants, the NSE said in a statement.
It will also contribute effectively towards development of the commercial paper market and is expected to have a positive effect on the debt capital market, it added.
In separate statements, the exchanges said Aditya Birla Finance is the first company to list its commercial paper with value date of November 28 and maturity date on February 7, 2020. ABFL is a well-diversified non-banking finance company (NBFC) with a long-term credit rating of AAA (stable) from both ICRA as well as India Ratings.
CP is an unsecured money market instrument issued in the form of promissory notes that enables highly rated corporate borrowers to diversify their sources of short-term borrowings and provides an additional instrument to investors.
Commercial papers can be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue. CP are usually issued at a discount from face value and reflects prevailing market interest rates.
Outlook India
Aditya Birla Finance becomes first company to list commercial papers on exchanges
28 November 2019
New Delhi, Nov 28 Aditya Birla Finance Ltd (ABFL), the NBFC arm of Aditya Birla Capital, on Thursday became the first company to list its commercial papers on the stock exchanges. The move comes after the exchanges -- the BSE and the NSE -- came out with a framework for listing of commercial papers (CPs), in a bid to broaden investors'' participation in such securities.
Listing of CPs is expected to lead to efficient transmission of information regarding corporate borrowings and liquidity positions to market participants, the NSE said in a statement.
It will also contribute effectively towards development of the commercial paper market and is expected to have a positive effect on the debt capital market, it added.
In separate statements, the exchanges said Aditya Birla Finance is the first company to list its commercial paper with value date of November 28 and maturity date on February 7, 2020. ABFL is a well-diversified non-banking finance company (NBFC) with a long-term credit rating of AAA (stable) from both ICRA as well as India Ratings.
CP is an unsecured money market instrument issued in the form of promissory notes that enables highly rated corporate borrowers to diversify their sources of short-term borrowings and provides an additional instrument to investors.
Commercial papers can be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue. CP are usually issued at a discount from face value and reflects prevailing market interest rates.
Business Insider
Aditya Birla Finance becomes first company to list commercial papers on exchanges
PTI|28 November 2019
New Delhi, Nov 28 () Aditya Birla Finance Ltd (ABFL), the NBFC arm of Aditya Birla Capital, on Thursday became the first company to list its commercial papers on the stock exchanges. The move comes after the exchanges -- the BSE and the NSE -- came out with a framework for listing of commercial papers (CPs), in a bid to broaden investors' participation in such securities.
Listing of CPs is expected to lead to efficient transmission of information regarding corporate borrowings and liquidity positions to market participants, the NSE said in a statement.
It will also contribute effectively towards development of the commercial paper market and is expected to have a positive effect on the debt capital market, it added
In separate statements, the exchanges said Aditya Birla Finance is the first company to list its commercial paper with value date of November 28 and maturity date on February 7, 2020. ABFL is a well-diversified non-banking finance company (NBFC) with a long-term credit rating of AAA (stable) from both ICRA as well as India Ratings.
CP is an unsecured money market instrument issued in the form of promissory notes that enables highly rated corporate borrowers to diversify their sources of short-term borrowings and provides an additional instrument to investors.
Commercial papers can be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue. CP are usually issued at a discount from face value and reflects prevailing market interest rates
Updated on: 29/11/2019
