Summary:
S Bachan Jeet Singh ByExpress News ServiceHYDERABAD: The grand plans of Greater Hyderabad Municipal Corporation (GHMC) to raise Rs 305 crore through municipal bonds received a jolt on Tuesday as it fetched only Rs 100 crore at a coupon rate of 10.23 per cent. The net interest after central government incentive of Rs 13 crore to GHMC is around nine per cent. The lukewarm response is due to the volatile share market prevailing for last few weeks, however GHMC officials said that the corporation created history in the Municipal Bond’s market in India. Even in the prevailing condition of economy facing slow down, the GHMC successfully secured bidding for Rs 100 crore, said they. The electronic bidding was opened at 11.30 am and within an hour, bidding for Rs 100 crore was received..