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Exclusive: BluSmart crisis likely to draw Sebi heat on unlisted bond market
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The unlisted bond distribution market is likely to come under scrutiny of the Securities and Exchange Board of India in the wake of the crisis at all-electric cab hailing startup BluSmart Mobility, said industry insiders.
BluSmart sold more than Rs 100 crore of unlisted, unsecured corporate bonds to high-net-worth individuals as well as some retail investors in the past one year, mostly facilitated by fintech platforms like Yubi, Centricity and Klub.
Sebi is not in favour of allowing retail investors to have exposure to such products which are…
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