Uttar Pradesh Chief Minister, Yogi Adityanath rang the bell on the Bombay Stock Exchange (BSE), to mark the itemizing of bonds of Lucknow Municipal Corporation on the trade. The bonds of LMC have been launched on November 13, with a coupon charge of 8.5 per cent and had tenure of 10 years. The issuance had garnered 4.5 occasions subscription.
About Lucknow Municipal Corporation Bond:
- Lucknow is the ninth metropolis in India and first from UP, to have raised municipal bonds for fundraising. It can be the primary metropolis to concern municipal bond after the launch of Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme.
- Lucknow Municipal Corporation is the primary civic physique from North India to concern a bond on BSE.
- The funds raised by means of the bond will likely be invested in varied infrastructure schemes, being carried out underneath the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) Scheme, in Lucknow.
- Ghaziabad would be the subsequent metropolis of the state to concern a municipal bond and it will likely be adopted by Pragyaraj, Varanasi, Agra and Kanpur.
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