Pune Municipal Corporation bonds to get listed on BSE soon
PMC is set to get listed on the Asia’s oldest stock exchange, Bombay Stock Exchange soon. The Pune city has received top slot of AA+ out of 94 cities rated by the Union Urban Development Ministry. Through these municipal bonds, Pune will be the first city in the country to raise capital under the National Democratic Alliance (NDA) government in the centre.
As per leading national news agency, around a dozen municipalities are expected to raise capital of Rs 6,000 crore in 2017. Municipal bonds were first issued by Bangalore Municipal Corporation in 1997. Till 2013, Rs 1,485 crore were raised by different municipalities through municipal bonds.