Uttar Pradesh CM Yogi Adityanath rings bell at BSE for listing Lucknow Municipal Corporation bonds

Uttar Pradesh Chief Minister Yogi Adityanath rang the bell at the Bombay Stock Exchange (BSE), on 2nd December 2020, to mark the listing of bonds of Lucknow Municipal Corporation on the exchange.
The bonds of LMC were launched on November 13, with coupon rate of 8.5 percent and had tenure of 10 years. The issuance had garnered 4.5 times subscription.
Lucknow is the ninth city in India and first from UP, to to have raised municipal bonds for fund raising.
It is also the first city to issue municipal bond after the launch of Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme.
Also Lucknow Municipal Corporation is the first civic body from North India to issue bond on BSE.
The funds raised through the bond will be invested in various infrastructure schemes, being implemented under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) Scheme, in Lucknow.
Ghaziabad will be the next city of the state to issue a municipal bond and it will be followed by Pragyaraj, Varanasi, Agra and Kanpur.