JM Financial Group has launched a digital bond investment platform called Bondskart.com to increase private investor participation in the corporate securities market. The move comes close on the heels of the Reserve Bank of India’s Retail Direct Scheme, which aims to broaden the investor base for g-secs.
The platform aims to create an ecosystem in which retail investors can easily participate in the securities market, which until now has been dominated by institutional investors.
Ajay Manglunia, Managing Director & Head of Institutional Fixed Income, JM Financial, said the potential investor on Bondskart.com would have options for fixed income investments across a variety of rating categories, yields and instrument types.
The platform would include options such as plain vanilla bonds, sub-debt/Tier-II and perpetual bonds, backed by internal analytics. The platform would also give investors the flexibility to sell their debt securities with secure settlements, adding liquidity to the platform as a utility function, the group said in a statement.
In the future, JM Financial plans to add more value-added services to Bondskart.com. The fully customized platform runs on minimal human intervention and provides time and functional efficiency. It is available on the web and in the mobile app on Android and iOS.
JM Financial Products Limited, the flagship of the NBFC, operates the platform. On September 30 of this year, the group’s consolidated loan book was Rs 11,070 crore. The distressed lending business had assets under management (AUM) of Rs 10,690 crore and asset management AUM of Rs 83,390 crore.
The group is headquartered in Mumbai and has a presence at 601 locations across 181 cities in India.
Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and that have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how we can improve our offering has only strengthened our determination and commitment to these ideals. Even during these difficult times arising from Covid-19, we remain committed to keeping you informed and informed with credible news, authoritative views and astute commentary on current issues of concern.
However, we have a request.
As we fight the economic impact of the pandemic, we need your support even more so we can continue to bring you more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through increased subscriptions can help us put into practice the journalism we’re committed to.
Support quality journalism and subscribe to Business Standard.