UP CM to attend Lucknow municipal body bond listing in BSE tomorrow

The Rs 200 crore LMC bond, which was launched on November 13, was 4.5 times oversubscribed and closed at 8.5 per cent coupon rate for 10 years, which is the second lowest rate of all the municipal bonds launched till date, an official spokesman here said on Tuesday. With this, Lucknow becomes the ninth city in the country to have raised municipal bonds and the first city to issue such a bond after the launch of AMRUT Scheme, the spokesman said.

Uttar Pradesh Chief Minister Yogi Adityanath will attend the listing ceremony of the Lucknow Municipal Corporation (LMC) bond, the first such listing from the entire northern region, on the Bombay Stock Exchange (BSE) in Mumbai on Wednesday. The Rs 200 crore LMC bond, which was launched on November 13, was 4.5 times oversubscribed and closed at 8.5 per cent coupon rate for 10 years, which is the second lowest rate of all the municipal bonds launched till date, an official spokesman here said on Tuesday.

With this, Lucknow becomes the ninth city in the country to have raised municipal bonds and the first city to issue such a bond after the launch of AMRUT Scheme, the spokesman said. The funds raised through the bond will be invested in various infrastructure schemes in the state capital, including the water supply project and housing project being implemented under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) Scheme, he added.