GHMC Bond taps Rs 100 cr in capital market

Hyderabad: The GHMC Municipal Bond Series III phase, bidding for Rs 100 crore was successfully tapped the capital Markets here today. It created a record in the country that GHMC has successfully secured bidding for Rs 100 crore from the capital markets and this was the only corporation in the country that hit the capital markets for the third time, Mayor Bonthu Rammohan said here today, adding that the secured Rs 100 crore will be spent on the projects undertaken under SRDP.

With this amount, works like Fly-overs, Underpass, bridges will be undertaken, the Mayor said.

The bidding for GHMC Municipal bonds opened from 11.30 am and it received bidding for Rs 100 crs well before 12.30 pm i.e. within an hour. The GHMC invited bidders from the prospective investors through BSE. The bidding was conducted under the supervision of Addl. Commissioners, Sikta Patnaik, D. Jayaraj Kennedy, Bombay Stock Exchange officials, SBI Capital Markets, SPA Securities Limited, SBICAP Trustees, Karvy (RTA) MV KINI (Legal Advisor) and Advisor, to Municipal Department Jayasree. M. Dana Kishore, the Commissioner, thanked the Bidders for their overwhelming response.