Exclusive: BluSmart crisis likely to draw Sebi heat on unlisted bond market

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The unlisted bond distribution market is likely to come under scrutiny of the Securities and Exchange Board of India in the wake of the crisis at all-electric cab hailing startup BluSmart Mobility, said industry insiders.

BluSmart sold more than Rs 100 crore of unlisted, unsecured corporate bonds to high-net-worth individuals as well as some retail investors in the past one year, mostly facilitated by fintech platforms like Yubi, Centricity and Klub.

Sebi is not in favour of allowing retail investors to have exposure to such products which are…



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Exclusive: BluSmart crisis likely to draw Sebi heat on unlisted bond market


The unlisted bond distribution market is likely to come under scrutiny of the Securities and Exchange Board of India in the wake of the crisis at all-electric cab hailing startup BluSmart Mobility, said industry insiders.

BluSmart sold more than Rs 100 crore of unlisted, unsecured corporate bonds to high-net-worth individuals as well as some retail investors in the past one year, mostly facilitated by fintech platforms like Yubi, Centricity and Klub.

Sebi is not in favour of allowing retail investors to have exposure to such products which are…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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