Gandhinagar turns into the fifth municipal company in Gujarat to challenge municipal bonds
| Picture Credit score:
FRANCIS MASCARENHAS
Our Bureau
Gandhinagar Municipal Company (GMC) on Wednesday introduced the itemizing of its ₹25 crore municipal bond on the Nationwide Inventory Trade (NSE).
The itemizing was carried out by means of a ceremonial bell ringing, held within the presence of Gandhinagar Mayor Miraben Patel, GMC and NSE officers, said an official launch from the state authorities.
With this transfer, Gandhinagar turns into the fifth municipal company in Gujarat to challenge municipal bonds, becoming a member of city our bodies of Ahmedabad, Surat, Vadodara, and Rajkot cities of the state.
City development
In 2016, Prime Minister Narendra Modi inspired city native our bodies throughout the nation to construct a vibrant municipal bond market, supported by SEBI, to encourage self-reliant and sustainable city development.
Aligning with this imaginative and prescient, Gandhinagar Municipal Company has now turn out to be the primary within the state to challenge municipal bonds inside simply 15 years of its institution, the discharge added.
Sriram Krishnan, Chief Enterprise Improvement Officer of NSE, said that to date, 17 municipal companies throughout the nation have issued bonds price ₹3,359 crore. Of this, Gujarat has made a notable contribution by issuing bonds price ₹925 crore, accounting for 27 per cent of the whole bonds.
Revealed on June 25, 2025
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