Over the next decade, 17 of the 20 fastest-growing cities in the world are expected to be from India. At the heart of it all are our local municipal bodies that have historically been plagued by a lack of governance and financial discipline. But that is gradually changing! Municipal Corporations looking to seek financial autonomy & instill financial discipline are rushing to the bond market to fund their big & discerning projects. 25 years after the first-ever Indian Municipal Bond and less than 6 months after the doors were opened to retail investors, the Municipal bond market is looking promising. So, what is the attraction to raising funds from bond markets? Also, why would someone bet on Municipal Bonds? What are the returns and challenges? Host Kiran Somvanshi gets the answers from Arnab Choudhury of SBI Capital Markets, Kripanand Shukla of Kanpur Municipal Corporation, Kunal Mandwale of Pune Municipal Corporation and Madan Sabnavis of Bank of Baroda. Tune in to the latest
India s First 150 Crore Ghaziabad Green Bond lists on the BSE Bond Platform
Posted On: 2021-04-08 08:29:21 (Time Zone: Arizona, USA)
The Ghaziabad Municipal Corporation which raised 150 Crore (Base Issue: 100 Crore with the green shoe option of 50 Crore) via Municipal Bonds on private placement basis using the BSE bond platform, was listed on the exchange today. It was opened for a subscription on 31 March, 2021.
The coupon rate of the taxable bond was fixed at 8.1% per annum and is rated AA by India Ratings and AA(CE) by Brickworks and has a maturity of 10 years with a staggered redemption. Additionally, the company received Rs 19.5 Crore incentive from Government of India for raising Municipal Bonds.