NSE has received bids worth Rs. 106 crore (341 kg) for the fourth tranche of sovereign gold bond (SGB) scheme which closed for subscription on July 22, said a note sent by NSE today. The exchange has received around 8,000 applications.
The bonds were issued by RBI on behalf of the Government of India.
“The exchange has been able to garner large market share due to its nation-wide presence, simplified procedures and extensive engagements with stakeholders. NSE leveraged its presence in more than 2,500 cities in India and ensured all their capital market segment players were able to participate in the government’s initiative. The exchange has organised around 1000 programs across India in last one month to popularise this product. The time tested e-ipo platform of the exchange was enhanced with simple procedures to handle the entire order acceptance,” said a note sent by NSE.
Apart from the main exchange, SGB was also available on NSE MF II distributor platform where it received about 20 kg worth of bids.
The issue price for the fourth tranche of SGB was 3,119 per gram. To attract retail investors, the government had slashed the minimum subscription from two grams to one gram in this issue.
