Our institutional debt broking division includes, secondary market broking, primary market debt placement & distribution and provident fund advisory services.

Secondary debt broking is the principle service provided by this division. The clients mainly comprise of institutional debt players, such as banks, primary dealers, mutual funds, large provident funds and in some cases corporate treasuries. The division empanelled with almost all banks, primary dealers and mutual funds, on whose behalf it acts either on the buying or selling side. All types of debt papers are covered, including government securities, treasury bills, public sector bonds, corporate bonds etc. This desk also provides transacting and advisory services to various provident funds and HNI clients.

The primary market services cover placement of debt paper issued by corporates, with institutional segments covering banks, mutual funds etc. These services cover various activities :-

• Advising the clients on the issuance including the instrument, quantum, timing, other instrument specific structuring such as put / call option, conversion option and rating. Assisting in the rating exercise and suggesting various means and options to improve rating if so desired, through “Structured Obligations” or other mechanisms.
• Pre marketing the placement / issuance
• Selling / placing the issuance
• Assisting in any related documentation for the issuance
• Assisting in all other steps to complete the issuance for draw down funds

The debt instrument covered by this division cover both short term as well as longer term instruments. Commercial paper and MIBOR Linked Bonds are popular among the short-term instruments. The division uses a proprietary online platform called “DebtonNet” for online book building of debt issuances.