Greater Hyderabad Municipal Corporation successfully raised Rs. 200 crores on BSE BOND platform
Mumbai, February 15, 2018: BSE, Asia’s oldest exchange and now world’s fastest stock exchange with the speed of 6 microseconds, on 1st July 2016 had launched the platform for Electronic Book Mechanism “BSE BOND” for issuance of debt securities on private placement basis.
On February 14, 2018, Greater Hyderabad Municipal Corporation successfully raised Rs. 200 crores by issuing bonds on private placement basis using BSE BOND platform. On June 19, 2017, Pune Municipal Corporation was the first Municipal Corporation to successfully raised Rs.200 crores on the BSE BOND platform.
Speaking on this occasion Shri Ashishkumar Chauhan, CEO & MD BSE said, "I am delighted that Greater Hyderabad Municipal Corporation (“GHMC”) is able to raise Rs. 200 crores 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 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.”
Dr. 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 Crores at competitive rates for strategic road development programme.”
BSE platforms for bond issuances have been a preferred choice for companies to raise Debt Capital in India. In this Financial Year 2017-18, till February 14, 2018, 76 Issuers have done 386 issues of bonds and have successfully raised Rs. 151,313 crore using BSE Debt platforms. Some of the esteemed issuers include PFC, RECL, IRFC, PGCI, NHAI, HDFC, Axis Bank, PGCI, NABARD, Yes Bank etc.
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