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GHMC raises Rs. 100 crore from capital markets

GHMC raises Rs. 100 crore from capital markets
Highlights

The Greater Hyderabad Municipal Corporation (GHMC) Municipal Bond Series III phase bidding for Rs. 100 Crores is successfully tapped the capital Markets here today.

Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) Municipal Bond Series III phase bidding for Rs. 100 Crores is successfully tapped the capital Markets here today.

It created a record in the country that GHMC has successfully secured bidding for Rs. 100 crores from the capital markets and this is the only corporation in the country that hit the capital markets for the third time so far, GHMC Mayor Dr. Bonthu Rammohan said here today.

The secured Rs. 100 Crore will be spent on the projects undertaken under SRDP. With these amount works like flyovers and underpass, bridges would be undertaken, the Mayor said.

The bidding for GHMC Municipal bonds opened from 11.30 AM and GHMC received bidding for 100 Crs well before 12.30 PM, i.e. within One hour. The GHMC invites the bidders from the prospective investors through BSE. The bidding process conducted under the supervision Bombay Stock Exchange officials, SBI Capital Markets, SPA Securities Limited, SBICAP Trustees, Karvy (RTA) MV KINI (Legal Advisor) and Advisor, to Municipal Department Jayasree.

Even in the prevailing condition of the economy is facing slow down; the GHMC has successfully secured bidding for Rs. 100 crores.

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