Multi-asset alternative investment platform, Grip has obtained the Online Bond Platform Provider (OBPP) licence under the new regulatory framework established by the Securities and Exchange Board of India (SEBI). The company is now a Stock Broker in the Debt segment with the National Stock Exchange (NSE).
SEBI introduced the OBPP regulations in November 2022 with the intention of democratizing investment opportunities for retail investors, while simultaneously enhancing the corporate bonds market and safeguarding the interests of retail investors. These changes were implemented to enable retail investors to participate in private corporate debt issuances, such as corporate bonds, at a reduced transaction value of Rs 1 lakh, all while ensuring heightened transparency and safety.
On securing the OBPP Licence, Nikhil Aggarwal, Founder & CEO, Grip, stated, “We deeply appreciate SEBI’s forward-thinking approach to support the growth of the wealth-tech industry and create an enabling regulatory regime for retail investor participation. The OBPP regulations have combined measures to grow the market while also protecting investor interests. The addition of products like SDIs which are listed and credit-rated will be game-changers to ensure more Indians can access wealth-creation options with the comfort, security and low transaction costs possible through an online platform. We believe these regulations will help with the creation of a very large and sustainable alternative investment industry and we are committed to continue operating in compliance with current and future regulatory frameworks.”
Co-founded by Nikhil Aggarwal, Vivek Gulati, and Aashish Jindal in June 2020, Grip is India’s leading multi-asset alternative investment discovery platform. It is also the first platform to list Securitized Debt Instrument (SDI) on the NSE in October 22 and introduced products such as leasing (LeaseX), invoice discounting (InvoiceX), loan securitization (LoanX) and portfolio of bonds (Bondx).