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Greater Hyderabad Municipal Corporation (GHMC) has listed its municipal bonds on the Bombay Stock Exchange (BSE). The civic body became the second to list its bonds on the BSE’s newly launched bond platform.
GHMC has raised Rs 200 crore by issuing bonds on a private placement basis using the BSE bond platform. In June 2017, Pune Municipal Corporation had raised a similar amount.
BSE had launched the platform on July 1, 2016, for issuance of debt securities on a private placement basis.
“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,” BSE said.
GHMC Commissioner B Janardhan Reddy said the funds would be used for road development programme. As many as 76 issuers have raised Rs 1,51,313 crore via 386 bond issues using the BSE debt platform.
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