Ghaziabad Nagar Nigam garners Rs 150 cr via BSE Bond platform

NEW DELHI: Ghaziabad Nagar Nigam on Wednesday raised Rs 150 crore by issuing municipal bond on private placement basis using the BSE BOND platform.

This is the first ever green bond issuance by a municipal corporation, BSE said in a statement.

Ghaziabad Nagar Nigam received 40 bids on the platform for Rs 401 crore.

Of these, institutional investors placed 12 bids for Rs 165 crore and non-institutional investors placed 18 bids of Rs 265 crore, as per the statement.

Out of the total 12 municipal bond issuances totalling to Rs 3,839.9 crore, Rs 3,325 crore have been raised on BSE BOND platform.

In the current financial year till March 30, “BSE BOND platform has enabled corporate India to raise Rs 3,68,403 crore (USD 50.16 billion) by issue of debt capital,” the exchange said.

The BSE BOND platform was launched in July 2016, to facilitate online bidding for debt securities on private placement basis.

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