Leading stock exchanges BSE and NSE on Thursday said they have individually crossed listing of over Rs 2 lakh crore of commercial papers on their platforms.
As many as 82 issuers have listed commercial papers worth over Rs 2 lakh crore as on Wednesday, according to NSE.
Till date 84 issuers have done 685 issuances of commercial papers (CPs) and have successfully listed CPs of over Rs 2.05 lakh crore on BSE since the start of the segment in November 2019, BSE said in a separate statement.
Besides, five firms, including HDFC, Tata Steel and Reliance Jio Infocomm, have filed applications with the BSE to list their commercial papers on Friday for a total issue size of Rs 7,650 crore.
Housing Development Finance Corporation Ltd, Tata Steel Ltd, Reliance Jio Infocomm Ltd, BASF India Ltd and IIFL Wealth Finance Ltd have made applications to list their CPs at BSE for issue size of Rs 3,650 crore, Rs 2,500 crore, Rs 1,000 crore, Rs 300 crore and Rs 200 crore, respectively, it said in a release.
After the process, the effective date of listing commercial papers with the exchange will be January 17, it added.
A CP is an unsecured money market instrument issued in the form of promissory notes that enable highly rated corporate borrowers to diversify their sources of short-term borrowings and provides an additional instrument to investors.
Such instruments can be issued for maturities between a minimum of 7 days and a maximum of one year from the date of issue.
CPs are usually issued at a discount from face value and reflect prevailing market interest rates.
