Municipal corporations may issue bonds worth Rs 1000 cr in next 3 months

Indore announces green bond issuance for Rs 244 cr, amount raised will be used to set up solar power plant

At a time when the Finance Ministry and the Reserve Bank of India are looking to encourage municipal bodies to issue bonds, debt market sources said that around five to six such corporations may sell bonds worth around Rs 1,000 crore in three to four months.

“There are talks going on between arrangers and around five or six municipal bodies. There is renewed interest in this route for raising funds. We could see roughly Rs 1,000 crore worth of total issuances in the next three to four months,” a source said.

Indore Municipal Corporation said on Monday that it has