Lucknow raises Rs 200 cr on BSE muni bond listing; more UP cities to follow

Ghaziabad, Pragyaraj, Varanasi, Agra and Kanpur to issue bonds next, says Yogi Adityanath.

Bonds issued by the Lucknow Municipal Corporation (LMC) listed on the BSE on Wednesday, raising Rs 200 crore for Uttar Pradesh's capital. It’s the ninth city in the country to raise capital through municipal bonds.

UP Chief Minister Yogi Adityanath, who rang the ceremonial bell to mark the listing, said Ghaziabad will be the next to issue a municipal issue and it will be followed by Pragyaraj, Varanasi, Agra and Kanpur.

LMC’s bond issuance, launched on November 13, offered coupon of 8.5 per cent and had tenure of 10 years. The issuance had garnered 4.5 times subscription.

Adityanath urged the