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The NSE and the BSE have received SEBI nod to act as electronic book providers. This facility will be used to offer an electronic book for issuance of privately placed debt securities. The offering will seek to streamline the private placement process and enhance transparency of the price discovery process. It would be operationalised on July 1, NSE said. It would be a bidding platform, and not a trading platform, with major beneficiaries being issuers, arrangers, sub-arrangers and participants. The mechanism will be mandatory for all private placements of debt securities in primary market of size ₹500 crore and above. The detailed guidelines on the mechanism will be provided subsequently, NSE said.
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