Ahmedabad set to hit capital market with Rs 200 cr municipal bonds

Grabs the highest AA+ rating after Pune from two agencies; Issue will be the city civic body's fifth in about a decade

Following the likes of Pune, Indore, Bhopal and Hyderabad, now Ahmedabad is set to hit the capital market with municipal bonds within the first fortnight of January 2019. Ahmedabad Municipal Corporation (AMC) is banking on the two AA+ ratings that it bagged recently, along with a rise in revenue streams to attract investments on the instrument. 

According to Vijay Nehra, municipal commissioner, AMC, the Rs 200 crore taxable municipal bond would be the city's fifth after it had raised one each in 1998, 2002, 2004 and 2005.