According to a ICICI release, the step is expected to simplify dealing in ICICI bonds on the stock exchanges, and will be done in respect of all public issues of icici safety bonds from November 1999 onwards.

With increasing number of public issues of bonds by ICICI, and various options in each issue, the unique code being allotted for each bond, will save time and effort on the part of investors and brokers to find out the scrip code in respect of each bond held by the investors. With the code written on the certificate itself, investors can directly approach the broker to deal in the same without any delay and doubt.

Earlier, the scrip codes were allotted to the bonds only at the time of listing on the stock exchanges.However, the bse and nse, as an investor-friendly move, have agreed to allot the codes before the bonds are listed on these exchanges. This move would facilitate secondary market transactions on the stock exchanges, thereby providing more depth to the domestic debt market, the release added.