GHMC lists bonds on BSE

  • | Friday | 23rd February, 2018

The GHMC on Thursday listed the ?200-crore worth municipal bonds on Bombay Stock Exchange, thereby becoming the second municipal corporation after Pune to do so. Joshi, and Mayor B. Rammohan formally rang a gong announcing listing of bonds in a ceremony organised at the GHMC head office. Principal Secretary, Municipal Administration and Urban Development Arvind Kumar, said the GHMC must take up many more innovative funding patterns for infrastructure development works in the near future. Speaking on the occasion, Mr. Joshi, said the GHMC has to strive for an AAA positive Credit rating from the existing AA stable rating. Mr. Ram Mohan siad the GHMC was planning to raise ?800 crore more through the bond market in the coming days.

The GHMC on Thursday listed the ?200-crore worth municipal bonds on Bombay Stock Exchange, thereby becoming the second municipal corporation after Pune to do so. Chief Secretary S.K. Joshi, and Mayor B. Rammohan formally rang a gong announcing listing of bonds in a ceremony organised at the GHMC head office. Speaking on the occasion, Mr. Joshi, said the GHMC has to strive for an AAA positive Credit rating from the existing AA stable rating. Commissioner B. Janardhan Reddy said 76 issuers had raised ?1,51,313 crore via 386 bond issues using the BSE debt platform. He said the corporation would take up various developmental works under strategic road development plan (SRDP) through the funds realised from issue of bonds. Principal Secretary, Municipal Administration and Urban Development Arvind Kumar, said the GHMC must take up many more innovative funding patterns for infrastructure development works in the near future. Mr. Ram Mohan siad the GHMC was planning to raise ?800 crore more through the bond market in the coming days. Chief of Business operations, Neeraj Kulshrestha, said, the GHMC was ranked second among all the municipal corporations in the country owing to its transparency and self-sufficiency. Principal Secretary, Finance, Ramakrishna Rao, and others were present on the occasion.

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