Lucknow Municipal Corporation floats bond at BSE

LUCKNOW: In another first to its credit, the Yogi Adityanath government in Uttar Pradesh has floated the first municipal bond in north India under the AMRUT scheme. The Lucknow Municipal Corporation (LMC) successfully launched its maiden municipal bond issue of Rs 200 crore (including green shoe option) on November 13, 2020 which is being listed and will be tradeable on Bombay Stock Exchange (BSE). According to the government spokesman, the issue was oversubscribed by 225 per cent (Rs 450 crore) and closed at a very attractive coupon rate of 8.5 per cent for a 10-year bond, which is a record, particularly in times of the Covid-19 pandemic. (IANS) 

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