Gandhinagar Municipal Corporation (GMC) marked a historic achievement on Wednesday with the successful listing of its inaugural municipal bonds worth Rs 25 crore on the National Stock Exchange (NSE). The bond issuance garnered an overwhelming response, receiving bids amounting to Rs 225 crore, surpassing the issue size by nine times. This milestone places GMC as the fifth urban local body in Gujarat and the 17th nationwide to tap into the municipal bond market. The bonds, offering a coupon rate of 7.65%, are a significant step toward the state’s growing focus on urban development.
