2 min read.Updated: 11 Dec 2020, 07:12 AM ISTRenu Yadav
The bonds are issued through private placements and are generally dominated by institutional investors like banks and mutual funds
Recently, the Lucknow Municipal Corp. issued bonds with a coupon rate of 8.5%. Given the attractive interest rates, the bonds received bids worth ₹450 crore, which indicates high investor interest. Nine municipalities, including that of Ahmedabad, Pune and Indore, have raised municipal bonds recently and many more have lined up to do so, said Pratapsingh Nathani, chairman and managing director, Beacon Trusteeship Ltd, a debenture trustee firm.
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