Bondbay review

Is Bondbay still working?

Not as a website. On 17th Oct 2026 both bondbay.in and www.bondbay.in returned a 404 "DEPLOYMENT_NOT_FOUND" error, its terms of use PDF returned the same error, and the broker's site dexifbroking.com returned a 402 error (bondbay.in, dexifbroking.com). The last archived capture of a working homepage is from 18th Feb 2026 (Wayback Machine, capture index).

The registry has not changed. BSE's OBPP file dated 24th Sep 2026 still shows Dexif Security Broking as Active (BSE list). We found no shutdown, surrender or merger notice, so this may be an outage or a wind-down. Our OBPP registry tracks the BSE status.

What happens to bonds bought through Bondbay if it has stopped?

Listed bonds bought through any OBPP must settle through an exchange clearing corporation into the buyer's demat account (SEBI NCS Master Circular). We could not verify which depository arrangement Bondbay used, because its terms are offline.

OBPPs are stock brokers, and grievance redress follows the stock broker framework, so SEBI's SCORES and the exchange's grievance and arbitration process apply (SEBI NCS Master Circular). BSE's file lists a compliance contact for Dexif (BSE list). Our FAQ on what happens to my bonds if the platform shuts down covers this in more detail.

Whose SEBI number does Bondbay use?

INZ000320338. BSE's file prints that number against both Dexif Security Broking (Bondbay) and Prachay Securities (BondSmart) (BSE list). Dexif's terms of use state INZ000320338 (terms, now offline), while Prachay's own site gives INZ000322839 (Prachay). The error sits in BSE's Prachay row. We could not confirm this on SEBI's intermediary portal, which was unreachable.

Who is behind Bondbay?

Dexif was founded in 2022 by IIT Delhi alumni Deepank Bhandari, formerly of Blinkit, and Tushar Sharma, and raised a $4 million seed round from existing backer RTP Global in May 2024 (Inc42). Pallavi Bajaj, formerly of Northern Arc, joined as a third co-founder in Oct 2023; Tracxn now labels her a former co-founder (Tracxn).

In May 2024, before its OBPP activation, Dexif claimed gross transaction value of nearly ₹300 crore a month (self-reported, May 2024) (Inc42). The archived homepage of 18th Feb 2026 offered listed bonds from ₹1,000 with returns up to 15% (Wayback Machine).