GHMC to raise Rs 2 billion for SRDP through municipal bonds

Reportedly, the Greater Hyderabad Municipal Corporation (GHMC) is planning to raise Rs 2 billion as a second tranche from the Rs 10 billion allocated to be raised through municipal bonds for the ongoing Strategic Road Development Programme. The first tranche of Rs 2 billion was raised through electronic bidding in February 2018. The bonds were placed at a coupon rate of 8.9 per cent for a tenure of 10 years in the form of private placement bonds. A proposal has been submitted to the GHMC standing committee for the second tranche, which is likely to be approved soon.