AlphaGrep raises ₹200cr via bonds after RBI tightens funding rules
Business
AlphaGrep, one of India's big names in high-frequency trading, just raised ₹2 billion by selling one-year bonds at 10.5% interest.
They made this move after the Reserve Bank of India (RBI) tightened rules on bank funding for firms like theirs.
The fresh cash will help AlphaGrep boost its AI and machine-learning tech, plus support its retail business.
RBI rules require full collateral
With new RBI rules making it harder for trading firms to get loans (basically requiring full collateral and limiting risk), AlphaGrep had to look elsewhere for funds.
By turning to bonds, they're keeping their operations running smoothly while upgrading their tech game.
The RBI's changes are all about making the market safer, especially for small investors.