GMC raises Rs 250 million via municipal bonds

The Gandhinagar Municipal Corporation (GMC) has listed its muni­cipal bonds worth Rs 250 million on the NSE. The bond issuance was met with strong investor interest, being oversubscribed nine times, with bids totalling Rs 2.25 billion. With this, GMC has become the fifth urban local body in Gujarat and the 17th in India to issue municipal bonds.