GHMC plans to raise Rs 10 billion through bonds

The Greater Hyderabad Municipal Corporation (GHMC) plans to raise Rs 10 billion through the issuance of bonds for funding the Strategic Road Development Plan (SRDP). The Telangana government has approved GHMC’s proposal to raise funds through bonds for Phase I of the SRDP, which is being taken up at a cost of Rs 35 billion. Meanwhile, the corporation has also been permitted to avail of Rs 25 billion through rupee term loans for the SRDP and other projects. The task of floating bonds has been entrusted to SBI Capital Markets Limited. This move makes GHMC the third municipal corporation in the country to issue bonds for raising funds, after the Ahmedabad and Pune municipal corporations.