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Aditya Birla Finance, first company to list commercial papers on stock exchanges

Aditya Birla Finance, first company to list commercial papers on stock exchanges

Aditya Birla Finance Ltd is a NBFC arm of the Aditya Birla capital and became the first company to list its commercial papers on stock exchanges to expand the investors' participation in securities.

Commercial Papers: It is an unsecured money market instrument issued in the form of promissory notes that enables highly rated corporate borrowers to diversify their sources of short-term borrowings and provides an additional instrument to investors.CPs will have maturity between 7days to one year from the date of issue and CP are usually issued at a discount from face value and reflects prevailing market interest rates. Listing of commercial papers on stock exchanges may lead to proper transmission of information regarding corporate borrowings, liquidity positions and further it may lead to development in commercial paper market.

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