Lucknow Municipal Corp bonds listed on BSE as CM Yogi Adityanath rings bell


Lucknow Municipal Corp bonds listed on BSE as CM Yogi Adityanath rings the bell

Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday attended the itemizing ceremony of the Lucknow Municipal Company (LMC) bond, the primary such itemizing from your entire northern area, on the Bombay Inventory Trade (BSE) in Mumbai.

The Rs 200 crore LMC bond, which was launched on November 13, was four.5 instances oversubscribed and closed at eight.5 per cent coupon charge for 10 years, which is the second-lowest charge of all of the municipal bonds launched until date, an official spokesman instructed PTI.

“In COVID instances, Lucknow Municipal Company will progress in the direction of reaching the ‘Aatmanirbhar’ aim with the itemizing of municipal bonds value Rs 200 crores. The Company is dedicated to bettering the lives of the residents residing in its jurisdiction, UP CM Yogi Adityanath,” mentioned within the itemizing ceremony of the LMC bond.

With this, Lucknow turns into the ninth metropolis within the nation to have raised municipal bonds and the primary metropolis to situation such a bond after the launch of AMRUT Scheme, the spokesman added.

The funds raised by the bond can be invested in numerous infrastructure schemes within the state capital, together with the water provide undertaking and housing undertaking being carried out beneath the Atal Mission for Rejuvenation and City Transformation (AMRUT) Scheme.

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