Greater Hyderabad Municipal Corporation has raised Rs 200 crore by issuing bonds on a private placement basis using BSE BOND platform.

On June 19, 2017, Pune Municipal Corporation was the first Municipal Corporation to successfully raise Rs 200 crore on the BSE BOND platform.

BSE, Asia’s oldest exchange and now world’s fastest stock exchange with a speed of 6 microseconds, on July 1, 2016 had launched the platform for Electronic Book Mechanism “BSE BOND” for issuance of debt securities on a private placement basis.

Ashishkumar Chauhan, CEO & MD, BSE, said,"Greater Hyderabad Municipal Corporation is able to raise Rs 200 crore successfully using BSE BOND platform, a market leading platform for bond raising in India. GHMC is the second municipality to raise funds after Pune Municipal Corporation. BSE firmly believes 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.”

B. Janardhan Reddy, Municipal Commissioner, GHMC said, “GHMC is a fore runner in reforms by providing better civic amenities. We are extremely happy for the platform provided by BSE which enabled us to raise Rs 200 crore at competitive rates for strategic road development programme.”

In this financial year 2017-18, till February 14, 2018, 76 issuers have come out with 386 issues of bonds and have successfully raised Rs 151,313 crore using BSE Debt platform. Some of the issuers include PFC, RECL, IRFC, PGCI, NHAI, HDFC, Axis Bank, PGCI and Nabard.