Mumbai: Eliciting robust response from investors, Reliance Jio Infocomm Thursday received bids worth over Rs 3,700 crore for its Rs 2,000-crore bond issue on BSE's new platform.
The Rs 1,500-crore bond issue with a green shoe option of Rs 500 crore got oversubscribed "within a few minutes of the issue opening," BSE said.
Green shoe option allows the company to retain a stipulated amount from oversubscription.
The 'BSE-Bond' platform for private placement of debt securities "has created a new record with Rs 3,700 crore of bids received in the bond issuance of Reliance Jio", the exchange in a release.
Telecom player Reliance Jio, a subsidiary of Mukesh Ambani-led Reliance Industries, is preparing for the commercial roll out of its services soon.
"Today's issue by Reliance Jio Infocomm Ltd generated an overwhelming response of more than Rs 3,700 crore," BSE MD and CEO Ashishkumar Chauhan said.
The platform 'BSE BOND' was launched earlier this month.
"We are delighted with the success and congratulate the entire Reliance Jio Infocomm Ltd team for the tremendous success of this issue on this new platform BSE-BOND," Chauhan noted.
According to the release, BSE corporate debt market has a market capitalisation of Rs 11,25,072 crore and has been the preferred exchange for 90 per cent of public debt issuances by corporates over the last five years.
All investors, including institutional as well as high net worth (HNI) arrangers, are allowed to bid through BSE-BOND platform.
Disclosure: Firstpost is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited.
Updated Date: Jul 07, 2016 18:13 PM