New Delhi: National Stock Exchange of India (NSE) 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.
Companies, NBFCs with a net worth of at least Rs 100 crore and any other security specifically llowed by Reserve Bank of India (RBI) are eligible to list CPs.
