Electronic Book Provider or EBP is a web-based portal for online bidding of private placement of debt securities. The service is provided by recognised stock exchanges, such as the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) in India. EBP brings efficiency and transparency in price discovery. It reduces the time and cost for debt issuances. As per a circular by the Securities and Exchange Board of India (SEBI) in 2016, an electronic-book mechanism is mandatory for all private placements of debt in the primary market. Recently, SEBI, in a recent circular, lowered the threshold for debt issuance through EBP from Rs 100 crore to Rs 50 crore.