Smart City Updates
16 smart cities routing to raise funds through municipal bonds
Around 16 smart cities are planning to list their municipal bonds in stock markets with a view to raise funds in order to maintain leadership in India’s smart cities sweepstakes. While Pune is all set to issue a Rs 200-crore municipal bonds at BSE on June 22, 15 other smart cities have already appointed transactional advisers to follow Pune’s suit. The other cities include Jaipur, Jabalpur, Ahmedabad, Visakhapatnam, Indore, NDMC, Kakinada, Udaipur, Bhopal, Warangal, Kota, Bhiwadi, Kishangarh, Greater Hyderabad Municipal Corporation (GHMC) and Panaji. In last two decades, around 30 municipalities have raised a total of Rs 1,353 crore in the form of taxable bonds, tax-free bonds and pooled financing.
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