|
Getting your Trinity Audio player ready...
|
An OBPP, or Online Bond Platform Provider, is a company registered with SEBI. Such a platform allows investors to buy and sell bonds online. It acts as a “middle layer” between:
- Bond issuers
and
- Investors
Through an OBPP, you can view and invest in many types of bonds on a single website or app. For example, GoldenPi is a SEBI-registered OBPP platform. Here, you can explore multiple bond collections, along with important details like issuer name, credit rating, maturity date, yield, and more.
Want to understand in detail? Read this article to understand what OBPPs are, why they came into existence, and the various activities you can perform on them.
What Do You Mean By OBPP?
OBPPs are online marketplaces for bonds. They are designed for retail and non-institutional investors who may not have easy access to the bond market. By using digital systems, these platforms handle:
- Order placement
- Payment
- Record keeping
Furthermore, since OBPPs act as a middleman between bond issuers and investors, they eliminate the need to deal directly with brokers.
Start investing with just ₹10K & grow your wealth with fixed return opportunities.
Invest Now
How Do OBPPs Come into Existence?
SEBI (Securities and Exchange Board of India) noticed that in recent years, many online platforms have started selling bonds to retail investors. These platforms were mostly fintech companies or broker-backed platforms.
Investors were buying bonds through websites and apps, but there were no SEBI rules governing how these platforms should operate. In its scrutiny, SEBI saw these two primary issues:
- Investors were dealing with unregulated platforms
and
- There were gaps in disclosures, grievance handling, and settlement safety
To address these issues, SEBI decided to bring Online Bond Platforms under a formal regulatory framework and issued a circular (SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2022/154) on November 14, 2022.
So, What Changed After November 2022
From November 2022 onwards:
- Online Bond Platforms came under SEBI regulation
- Such platforms are now officially called Online Bond Platform Providers (OBPPs)
- OBPPs must follow strict rules similar to other SEBI intermediaries
This circular gives legal recognition + sets obligations for OBPPs. Let’s study them in the next sections.
What are the Core Requirements to Operate as an OBPP?
To run an Online Bond Platform:
- The entity must be an Indian company
- It must register as a stockbroker in the debt segment
- It must apply to a recognised stock exchange for approval as an OBPP
Without this, the platform cannot legally offer bonds online.
What are the Governance Requirements?
Every OBPP must:
- Appoint a Company Secretary as a compliance officer
- Have at least two senior managers with 3 years’ experience in the securities market
- Use SEBI’s SCORES system for investor complaints
- Maintain a grievance redress process
Additionally, OBPPs must follow full KYC requirements and conduct due diligence at the time of registering investors and sellers. To maintain transparency (at every stage of the investment process), they must:
- Issue electronic order receipts
- Issue deal sheets after execution
- Send alerts through SMS or email
What are the Mandatory Disclosures for Every Bond?
For each bond listed on an OBPP, the following details must be visible to the investors:
- Issuer name and ISIN
- Type of bond (secured or unsecured)
- Credit rating and rating rationale
- Coupon rate and payment frequency
- Price, yield, and maturity date
- Offer documents for download
What Can You Do With an OBPP in 2026?
The modern OBPPs of 2026 bring the following processes onto a single platform:
- Bond discovery
- Analysis
- Transaction execution
This makes bond investing easier and more accessible to non-institutional investors. For more clarity, check out these five things you can do on an OBPP:
1. Discover + Browse Different bonds
You can view a wide range of already “listed bonds” and “bonds proposed to be listed”. Each bond is shown with important details such as issuer name, credit rating, coupon rate, maturity date, and ISIN. This allows you to understand what options are available in the market.
2. Access Official Bond Documents
Usually, OBPPs provide offer documents, prospectuses, and rating rationales directly on the platform. By analysing these documents, you can better understand the:
- Issuer’s financial position
- Associated risks
- Bond terms
3. Buy Bonds in the Primary Market
You can apply for bonds that are being issued through public offerings (also known as NCD IPOs). There is no need to visit a bank or broker. The platform allows you to:
- Submit your application digitally
- Make the payment
- Receive confirmation of your application
Once the bonds are allotted, they are credited directly to your linked demat account.
4. Buy or Sell Bonds in the Secondary Market
Besides applying for NCD IPOs, you can also buy or sell listed bonds on an OBPP. These orders are routed through the stock exchange RFQ system and then settled through clearing corporations.
5. Track Orders and Transactions
You receive electronic order receipts and transaction alerts. This allows you to monitor:
- Order status
and
- Settlement details
Additionally, several modern OBPPs also offer online “dashboards”. They allow investors to track their completed trades and manage their investments online.
To Conclude, OBPPs Let You Invest in Bonds Digitally
So now you know what an OBPP is. It stands for Online Bond Platform Provider and allows you to invest in listed bonds and apply to NCD IPOs online. You can complete the entire process digitally, without visiting any broker or bank branch.
Note that since November 2022, OBPPs have been regulated by SEBI and follow all the issued guidelines. On an OBPP, you can perform the following tasks:
- Browse the available listed bond options
- Apply to NCD public issues
- Compare yields, ratings, and maturities
- Access offer documents and disclosures
- Buy and sell bonds online
- Track orders and transaction details
If you are searching for online bond marketplaces, GoldenPi is a SEBI-registered debt broker and OBPP license holder. With 10 lakh+ customers, GoldenPi enables investment in ₹4,000 crore+ worth of bonds every day. To explore multiple bond series, visit the platform today.
Online Bond Platform Provider (OBPP) FAQs
1. How does an OBPP handle investor grievances?
As per SEBI regulations, OBPPs must resolve complaints within 30 days. Also, they should disclose complaint details to stock exchanges (as they monitor OBPP compliance).
2. What can you do with an OBPP?
You can search, purchase, and sell bonds on an OBPP. Also, you can use their dedicated dashboards to manage your investments.
3. Is GoldenPi an OBPP?
Yes, GoldenPi is a SEBI-registered debt broker + an OBPP license holder. Here, you can explore multiple bonds and invest in them online. All you have to do is complete our KYC, browse multiple bonds, and lastly, make the payment.
4. Who regulates OBPPs in 2026?
Since November 2022, all the OBPPs have been regulated and supervised by the SEBI (vide circular no. SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2022/154).
5. Can OBPP settle trades on their own systems?
No! When you place a buy or sell order on an OBPP, the platform only acts as a facilitator. The actual trade is processed through the stock exchange’s RFQ system. Next, the transfer of money and bonds is completed by the clearing corporation.
Disclaimer:
This information is for general information purposes only. GoldenPi makes no guarantee on the accuracy of the data provided here; the information displayed is subject to change and is provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. Investments in the securities market are subject to market risks. Read all the offer-related documents carefully before investing.
Bonds or non-convertible debentures (NCDs) are regulated by the Securities and Exchange Board of India and other government authorities. GoldenPi Securities Private Limited is a registered debt broker and acts as a distributor and not as a manufacturer of the product.
