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Chennai Corporation’s Municipal Bonds
May 28 , 2025
22 hrs 0 min
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- Chennai Corporation is the first in Tamil Nadu to issue municipal bonds in the NSE.
- Coimbatore, Tiruchi, and Tiruppur too are in the process of raising funds through municipal bonds.
- It was with base issue size of ₹100 crore and green shoe of ₹100 crore.
- It is intending to utilise municipal bond proceeds to partly finance the ongoing works for the Integrated Storm Water Drainage Project (ISWDP) in Kosasthalaiyar basin.
- The Chennai Corporation was also planning to list municipal bonds for the multi-modal facility at Broadway bus stand.
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