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The Greater Hyderabad Municipal Corporation (GHMC) has listed its municipal bonds on the BSE. The civic body became the second to list the bonds on the BSE’s newly-launched bond platform.
The corporation raised ₹200 crore by issuing bonds on private placement basis using the BSE bond platform, becoming the second civic body to hit the platform to raise funds.
Hyderabad Mayor B Rammohan and Shailandar Kumar Joshi, Chief Secretary of Telangana, formally announced the listing on Thursday. The Mayor said the corporation would consider raising another ₹800 crore through the bond market in future.
The BSE launched the platform on July 1, 2016, for issuance of debt securities on private placement basis.
Asking the corporation to strive for a AAA rating, compared with the current AA rating, SK Joshi said the funds would be used for road development works.
“We believe that the Indian bond market is poised for a substantial growth and India can use its domestic savings to fund its infrastructure needs in a substantial manner,” the BSE said.
As many as 76 issuers have made 386 bond issues in FY18, raising over ₹1.51 lakh crore via BSE’s debt platform.
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