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Pune Municipal Corporation successfully raised Rs.200 crore on BSE BOND Platform

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Mumbai: BSE, Asia’s oldest exchange and now world’s fastest stock exchange with the speed of 6 microseconds, on 1st July 2016 had launched the platform for Electronic Book Mechanism “BSE BOND” for issuance of debt securities on private placement basis.

On June 19, 2017, Pune Municipal Corporation successfully raised Rs.200 crore the first ever mobilization of debt capital by Municipal Corporation on the BSE BOND platform.
Shri Ashishkumar Chauhan, CEO & MD BSE Ltd said, “I am delighted that Pune Municipal Corporation (PMC) is able to raise Rs.200 crore successfully using BSE BOND platform, a market leading platform for bond raising in India. PMC is the first municipality to raise funds in last several years. I am sure, the smart city framework as envisaged by Hon’ble PM Shri Narendra Modiji is taking shape very fast. BSE is delighted to play a significant role in raising funds for the smart cities. We invite all the municipalities to raise the funds and follow PMC’s successful bond issuance. BSE firmly believes that Indian bond markets are poised for a substantial growth and India can use its domestic savings to fund its infrastructure needs in a substantial manner.
Once again, i congratulate Hon’ble Minister for Urban Development Shri Venkaiya Naiduji, Hon’ble Minister of Urban Development for state Shri Rao Inderjit Singhji, and Hon’ble CM of Maharashtra Shri Devendra Fadnavisji for their exemplary leadership. I would also like to congratulate the entire team at Pune Municipal Corporation for their vision and implementation of this path breaking and pioneering issue.”

BSE platforms for bond issuances have been a preferred choice to raise Debt Capital in India. Till June 19, 2017, 74 Issuers have done 542 issues of bonds and have successfully raised Rs.2,55,175 crore using BSE BOND platforms. Some of the esteemed issuers include PFC, REC, PGCI, NHAI, IRFC, HDFC, Axis Bank, NTPC, HUDCO, NABARD, Yes Bank, HDFC Bank etc.

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