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The Ghaziabad Municipal Corporation, which raised Rs 150 crore (Base Issue: Rs 100 crore with the green shoe option of Rs 50 crore) via Municipal Bonds on private placement basis using the BSE bond platform, listed on the exchange on Thursday.
This is the second nagar nigam after Lucknow to get its bonds listed at Bombay Stock Exchange (BSE).
The coupon rate of the taxable bond was fixed at 8.1 per cent per annum and was rated AA by India Ratings and AA(CE) by Brickworks and has a maturity of 10 years with a staggered redemption.
Additionally, the municipal corporation has received a Rs 19.5 crore incentive from the Government of India for raising Municipal Bonds
The municipal corporation has entered into an understanding with Sahibabad Industries Association for the purpose of achieving various goals and objectives relating to water supply and the capital raised is proposed to partially fund the tertiary sewage and water treatment plant which is estimated to cost approximately Rs 239.93 crore.
Ghaziabad municipal bonds listed on BSE
Friday, 09 April 2021 | PNS
| Lucknow
Ghaziabad municipal bonds listed on BSE
Friday, 09 April 2021 | PNS | Lucknow
