Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Yogi Adityanath lists Lucknow Municipal Corporation bond at BSE
  • Business

    Yogi Adityanath lists Lucknow Municipal Corporation bond at BSE

    Shalini Ojha
    Written by
    Shalini Ojha
    Twitter
    Last updated on Dec 02, 2020, 04:52 pm
    Yogi Adityanath lists Lucknow Municipal Corporation bond  at BSE
  • Uttar Pradesh Chief Minister Yogi Adityanath listed Lucknow Municipal Corporation bond at the Bombay Stock Exchange (BSE) this morning. The state's capital has now become the ninth Indian city to raise municipal bonds.

    The BJP leader is on a visit to Mumbai, Maharashtra, and is expected to meet filmmakers today.

    Yesterday, he met superstar Akshay Kumar over dinner at a South Mumbai hotel.

  • In this article
    It is a matter of pride for UP: Adityanath How are municipal bonds helpful for cities? LMC's first bond was oversubscribed by 4.5 times After Lucknow, Ghaziabad will raise municipal bonds Amaravati, Pune, and Ahmedabad have also raised bonds Adityanath will also meet stakeholders to discuss film city's plans
  • Statement

    It is a matter of pride for UP: Adityanath

    It is a matter of pride for UP: Adityanath
  • The CM said it was a proud moment that "Lucknow Municipal Corporation raised Rs. 200 crore through its bond issue."

    This, he said, reflects the trust the state has earned in the last three and a half years.

    "It will augment our effort to improve infrastructure in urban areas and it shows the improvement in the industrial climate of the state," he said.

  • Explanation

    How are municipal bonds helpful for cities?

    How are municipal bonds helpful for cities?
  • In a bid to raise funds for specific projects, local municipal bodies issue bonds.

    As per the rules laid by the Securities and Exchange Board of India (SEBI), a municipal body can issue such bonds only if it doesn't have a negative net worth in three preceding financial years and if it hasn't defaulted in loan repayments during the last one year.

  • Looking back

    LMC's first bond was oversubscribed by 4.5 times

  • The LMC raised the aforementioned amount on November 13, by issuing bonds on a private placement basis using the BSE BOND platform.

    Twenty-one bids were placed for Rs. 450 crore.

    At the time, BSE said out of the 11 municipal bond issuances, whose total amount is Rs. 3,690 crore, a record Rs. 3,175 crore were raised on the exchange's BOND platform.

  • Plans

    After Lucknow, Ghaziabad will raise municipal bonds

  • After Lucknow, Ghaziabad will be the next UP city to raise bonds. Varanasi, Agra, and Kanpur will raise joint municipal bonds after Ghaziabad, a top government official had said earlier.

    Adityanath claimed that Ghaziabad municipal bonds will be listed in the coming three to six months.

    Unsurprisingly, the government plans to use the funds raised by LMC for infrastructure.

  • Other cities

    Amaravati, Pune, and Ahmedabad have also raised bonds

  • The other cities that have raised municipal bonds are Amaravati, Visakhapatnam, Ahmedabad, Surat, Bhopal, Indore, Pune, and Hyderabad. The respective amounts are Rs. 2,000 crore, Rs. 80 crore, Rs. 200 crore, Rs. 200 crore, Rs. 175 crore, Rs. 140 crore, Rs. 495 crore, and Rs. 200 crore.

    Interestingly, Lucknow became the first city to issue a bond after Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme was launched.

  • Details

    Adityanath will also meet stakeholders to discuss film city's plans

    Adityanath will also meet stakeholders to discuss film city's plans
  • Meanwhile, Adityanath will also meet filmmakers to discuss his government's plan of nestling a film city within Noida.

    Speaking on this, Adityanath's Maharashtra counterpart Uddhav Thackeray said his government is not jealous of others.

    "But if you are going to forcibly take anything away, then, of course, I won't let it happen and you (industrialists) will not be willing to go," he asserted.

  • Yogi Adityanath
  • Maharashtra
  • Lucknow
  • Uttar Pradesh
  • Akshay Kumar
  •  
Latest News
  • What is gluten intolerance? Its symptoms and foods to avoid
    What is gluten intolerance? Its symptoms and foods to avoid
    Lifestyle
  • These co-morbid conditions are eligible for COVID-19 vaccinations from Monday
    These co-morbid conditions are eligible for COVID-19 vaccinations from Monday
    India
  • ICC Test Rankings: Ashwin breaks into top three, Rohit surges
    ICC Test Rankings: Ashwin breaks into top three, Rohit surges
    Sports
  • Tips to help you keep your kids away from gadgets
    Tips to help you keep your kids away from gadgets
    Lifestyle
  • Second woman accuses NY Governor Andrew Cuomo of sexual harassment
    Second woman accuses NY Governor Andrew Cuomo of sexual harassment
    World
Related Timelines
  • Mukesh Ambani to Anand Mahindra, corporates join fight against coronavirus
    Mukesh Ambani to Anand Mahindra, corporates join fight against coronavirus
    Business
Trending Topics
Bharti Airtel Mukesh Ambani WhatsApp Reliance Jio OPPO Isha Ambani Gross Domestic Product
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Virat Kohli Rohit Sharma
Cricket News YouTube Hollywood News WhatsApp Bollywood News ISRO Yoga Honda Batman Football News
BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Royal Challengers Bangalore Toyota Fashion Tips Farmers Protest Mohammed Bin Salman
Mercedes Europa League Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics Avengers Neha Kakkar
Premier League Big Bang Theory X-Men TATA
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021