Bengaluru-based online bond platform, Wint Wealth has received online bonds platform provider (OBPP) license from the securities markets regulator Securities and Exchange Board of India (SEBI).
“We have received an OBPP license on July 25, and a broker license on July 13. OBPP license is a sub-license after broker license,” Ajinkya Kulkarni, Co-Founder and CEO of Wint Wealth told Moneycontrol on July 26.
Last year in November, Sebi had stipulated that online bond platforms selling listed debt securities must acquire a certificate of registration as a stockbroker in the wholesale debt segment under the SEBI (Stockbrokers) Regulations to function as an OBPP.
Soon after this, a lot of companies operating as online bond platforms acquired licenses from the SEBI.
SEBI initially established the regulations, which were later revised in response to instances of mis-selling observed on different platforms.
In a June 16 circular, the SEBI said OBPPs can offer the following: listed debt securities, listed municipal debt securities and listed securitised debt instruments; debt securities, municipal debt securities and securitised debt instruments proposed to be listed through a public offering; listed government securities, state development loans and treasury bills; and listed sovereign gold bonds.
“The regulation will protect retail investors and provide authenticity to online bonds platforms that are serious about investor protection,” Kulkarni was quoted saying in a release.
Wint Wealth, according to its website, shows selling listed bonds such as non-banking finance companies bonds and sovereign gold bonds.
“Going forward, we will actively introduce a range of fixed-income products to our portfolio,” Kulkarni added.
There are a lot of other players operating in the industry, such as Bondskart, The Fixed Income, BondsIndia, Indiabonds.
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