Hyderabad: Greater Hyderabad Municipal Corporation (GHMC) today listed its municipal bonds on stock exchange BSE's debt platform.
Last week, GHMC had raised Rs 200 crore by selling the 10-year bonds, becoming the second civic body to tap funds from this route this financial year after its counterpart in Pune. Hyderabad mayor B Rammohan, along with Chief Secretary of Telangana Shailandar Kumar Joshi formally rang a gong announcing the listing of GHMC bonds on the BSE today, an official release said.
Joshi said the GHMC will use the proceeds from the issue towards various development activities and other works under strategic road development programme. Besides, Rammohan noted that GHMC is also planning to raise another Rs 800 crore through the bond market in the coming days. BSE chief business operations Neeraj Kulshrestha said the "GHMC was ranked second among the municipal corporations in the country due to its transparency and self sufficiency and it is one of the municipal bodies in the country making a mark on the global platform". Pune Municipal Corporation (PMC) in June 2017 had raised Rs 200 crore by selling 10-year bonds, becoming the first civic body to tap money through this route in 15 years.