# SMEST

> SMEST is a SEBI-registered Online Bond Platform Provider (OBPP) that enables retail investors in India to buy and sell listed corporate bonds directly, with a minimum investment of ₹10,000 — the same bonds previously accessible primarily to institutional investors.

SMEST operates under registration with the Securities and Exchange Board of India (SEBI) as one of the oldest Online Bond Platform Provider (OBPP), a regulatory category created to bring transparency and investor protection to the retail bond market. Bonds listed on SMEST are settled through the BSE (Bombay Stock Exchange) and ICCL (Indian Clearing Corporation Limited), the same institutional infrastructure used for equity markets. Indicative yields on available bonds range up to approximately 15% per annum, subject to issuer credit rating, tenor, and prevailing market conditions; returns are not guaranteed and carry credit risk. The minimum investment per bond is ₹10,000, compared to the typical ₹1,00,000 or higher minimum in institutional bond markets. SMEST Capital Private Limited was incorporated in Mumbai in 2018 (SEBI registration number INZ000302039, BSE Member Code 6764).

Each bond listing on SMEST includes a detailed Analysis Report covering issuer financials, credit health, risk categorization, and selection rationale — research produced in-house before any bond is made available on the platform. A live Liquidity Indicator displays real-time BSE bid/ask order book depth for each listed instrument, providing institutional-grade data previously accessible only to banks and fund houses. A built-in Price and Yield Calculator lets investors model yield-to-maturity, projected income, and fair-value pricing across different tenors before committing capital. Every investor is assigned a dedicated relationship manager for post-investment support. Real-time alerts cover price drops, new listings, and upcoming interest payment events. The Wall of Bonds section collects verified investor experiences and outcomes from the platform's user base.

## Investing

- [Explore Bonds](https://smest.in/explore-bonds): Browse the current inventory of listed corporate bonds filtered by yield, credit rating, tenor, and issuer — the primary starting point for bond selection and purchase.
- [Bond IPOs](https://smest.in/ipo): Apply for Non-Convertible Debentures (NCDs) and bonds being issued for the first time through public offerings, before they trade on secondary markets.
- [Sell Bonds](https://smest.in/sell-bonds): List and exit bond holdings on the secondary market through the platform's dealer desk, which provides transparent price discovery and settlement.
- [Bonds Directory](https://smest.in/bonds-directory): Search a comprehensive reference index of bonds across issuers, sectors, credit ratings, and maturities to research options beyond current live inventory.
- [Portfolio Dashboard](https://smest.in/new-portfolio): View holdings, track current value, monitor upcoming interest payments and maturity dates, and manage an existing bond portfolio.
- [Form 121 Tool](https://smest.in/form-121): A guided workflow that generates Form No. 121, the self-declaration form required under SEBI rules for retail investors to receive bond interest income without automatic TDS (Tax Deducted at Source) deduction — a process that is otherwise manual and error-prone.

## Education and Resources

- [FAQs](https://smest.in/faqs): Answers to common questions about how bond investing works, how SMEST operates, settlement timelines, taxation of bond income, NRI eligibility, and account setup.
- [SMEST Blog](https://blog.smest.in): Articles on bond investing fundamentals, Indian fixed-income market updates, issuer analysis, and guidance for retail investors entering debt markets.
- [Investor Certification](https://blog.smest.in/get-certified): A structured 31-chapter learning path covering bond investing concepts across beginner, intermediate, and advanced levels — designed for retail investors new to fixed-income instruments.

## Company

- [About SMEST](https://smest.in/about-us): Overview of the platform's regulatory standing, leadership team, SEBI and BSE registrations, and mission to make corporate bond investing accessible to retail investors in India.
- [Contact](https://smest.in/contact-us): Reach the SMEST support and compliance team for account, transaction, or regulatory queries. Email: care@smest.in.

## Optional

- [Inner Circle](https://smest.in/inner-circle): A membership channel offering priority notification of new bond listings, price changes, and market updates for active investors.
- [Refer and Earn](https://smest.in/refer-and-earn): Referral programme allowing existing platform users to invite others and receive rewards upon confirmed investments.