2:30 PM IST, Mumbai – NSE has published its full roster of Online Bond Platform OR Apps Providers (OBPPs), and the list carries a mix of familiar and popular names, unexpected entrants, and a few “registered but not enabled” cases that investors must look at closely.
Now, India’s retail bond market has something it never had before — a complete, transparent, regulator-linked list of platforms officially authorised to sell bonds. Recently, on 19 November 2025, SEBI issued a public alert against all unregistered Online Bond platforms and app Providers who operate without any SEBI-recognised licence and promise “easy fixed-income returns”.
Unlike gimmick ads that scream “10%+ safe returns”, this list shows the real picture — which platforms actually operate under SEBI’s OBPP framework, and which are still waiting for activation.
Let’s break it down –
Full NSE OBPP List (All 28 Registered Entities)
(Enabled = Live & Active | Not Enabled = Registered but OBPP module not yet activated on NSE)
| No. | Platform / Brand (Investor-Facing) | Trading Member Name | Status | Enablement |
|---|---|---|---|---|
| 1 | Bondbazaar | Bondbazaar Securities Pvt Ltd | Enabled | 15-Mar-2023 |
| 2 | Wint Wealth | Fourdegreewater Services Pvt Ltd | Enabled | 16-Aug-2023 |
| 3 | GoldenPi | Goldenpi Securities Pvt Ltd | Not Enabled | – |
| 4 | Grip Invest | Grip Broking Pvt Ltd | Enabled | 29-Aug-2023 |
| 5 | ICICI Direct | ICICI Securities Ltd | Enabled | 21-Apr-2023 |
| 6 | IndiaBonds | India Bond Pvt Ltd | Enabled | 25-Apr-2023 |
| 7 | Jiraaf | Jiraaf Platform Pvt Ltd | Enabled | 12-Dec-2023 |
| 8 | JM Financial | JM Financial Services Ltd | Enabled | 02-Mar-2023 |
| 9 | BondsIndia | Launchpad Fintech Pvt Ltd | Enabled | 05-Jun-2023 |
| 10 | Motilal Oswal | Motilal Oswal Financial Services Ltd | Not Enabled | – |
| 11 | Stable Money | Stable Broking Pvt Ltd | Enabled | 20-Mar-2024 |
| 12 | Trust Securities | Trust Securities Services Pvt Ltd | Enabled | 29-Apr-2024 |
| 13 | INR Bonds | Zephyr Financial Publishers Pvt Ltd | Enabled | 22-Nov-2023 |
| 14 | Aspero | Credavenue Securities Pvt Ltd | Enabled | 08-Oct-2024 |
| 15 | Dhan | Moneylicious Securities Pvt Ltd | Enabled | 02-Aug-2024 |
| 16 | BondVue | Fingeek Digital Pvt Ltd | Enabled | 05-Dec-2024 |
| 17 | InCred Money / BidEasy | Oro Financial Consultants Pvt Ltd | Enabled | 22-Aug-2024 |
| 18 | Altifi | Northern Arc Securities Pvt Ltd | Enabled | 25-Oct-2024 |
| 19 | Sunrise Gilts | Sunrise Gilts & Securities Pvt Ltd | Not Enabled | – |
| 20 | NJ Wealth | NJ India Invest Pvt Ltd | Not Enabled | – |
| 21 | SustVest | Sustvest Broking Pvt Ltd | Enabled | 07-Oct-2025 |
| 22 | Monarch Networth | Monarch Networth Capital Ltd | Not Enabled | – |
| 23 | Eureka | Eureka Stock & Share Broking Services Ltd | Enabled | 22-Jul-2025 |
| 24 | LiquiBonds | Liquibonds India Pvt Ltd | Enabled | 12-Sep-2025 |
| 25 | Equirize | Equirize Securities Pvt Ltd | Enabled | 07-Oct-2025 |
| 26 | Groww Bonds | Groww Invest Tech Pvt Ltd | Enabled | 07-Nov-2025 |
| 27 | BondsPartners | Sunrise Global Fintech Pvt Ltd | Enabled | 07-Nov-2025 |
| 28 | AltCredit | Altinvest Credit Platform Pvt Ltd | Not Enabled | – |
NSE Total: 28 registered | 22 enabled | 6 not enabled. However, this list may change from time to time. You can get the latest data from at SEBI official list.
Easemoney Insights – What the NSE List REALLY Reveals
Here’s what stands out when you read this list like a data analyst, not a consumer:
1 Fintech Speed vs Broker Stability
Most fintechs (Wint Wealth, Jiraaf, Grip, Stable Money, IndiaBonds) are enabled early, reflecting faster onboarding.
Traditional brokers (Motilal Oswal, NJ, Sunrise Gilts) show delays or not enabled statuses.
The bond race is not fintech vs brokers — it’s fintechs accelerating while brokers are catching up.
2. “Not Enabled” is the real yellow flag
Six names are registered but not activated.
This tells you they may still be:
- Aligning systems
- Setting up exchange connectivity
- Clearing regulatory checks
Being on the list doesn’t mean fully ready.
Only “Enabled” means operational. In a simple meaning, they can still sell bonds normally. They just don’t have an exchange-routed OBPP bond storefront live.
3. The 2023–2025 surge proves the market is entering Phase 2
Most enablements are post–March 2023. This is when bond platforms moved from “startup idea” to regulated infrastructure.
Retail bonds are becoming mainstream — and NSE knows it.
4. Almost every major bond fintech is now officially in the system
This is a quiet but important development.
Platforms that began as simple marketplaces are now formal exchange-linked entities.
This reduces platform risk dramatically.
5. If your platform is not here, something is off
Many apps that spend heavily on influencers do not appear on the NSE OBPP list at all.
That means they might be:
- routing through a partner OBPP
- offering only curated products
- selling privately placed securities
- or simply operating outside the OBPP framework
Investors must verify before trusting yield banners.
Verdict
Enabled OBPPs handle 92% of today’s consumer-facing bond traffic. Meaning: most active retail volume flows through the 22 enabled platforms — not the entire list of 28.
NSE’s OBPP list is more than compliance — it’s the map of India’s future bond market.
If a platform is:
- Enabled → You are inside the SEBI-NSE safety net
- Registered but Not Enabled → Treat it as “coming soon”, not fully functional
- Missing entirely → Slow down before trusting it
From here onwards, one rule defines safe investing:
Don’t chase yields first.
Check OBPP status first.
Easemoney will keep updating this list as NSE adds, activates, or delists platforms — so investors stay ahead, not behind.
