Amaravati bonds were listed in Bombay Stock Exchange (BSE) on Monday at 9.15 am as Chief Minister N Chandrababu Naidu rang the bell.
With this, the State government crossed another milestone in raising funds for the construction of capital city Amaravati.
Earlier bonds worth ₹2,000 crore were floated by the A.P. Capital Region Development Authority (APCRDA). The bonds were lapped up in a one-hour offer window on the BSE’s electronic platform on August 14. They were oversubscribed 1.53 times with the backing of A+ rating by CRISIL against the minimum investment grade of BBB.
Highlighting the infrastructure facilities being developed in Amaravati, Mr. Naidu said the new State capital would be an ideal city to live in.
Andhra Pradesh was implementing many innovative initiatives. It has poised to promote electric vehicles to ensure clean air, water, and environment. Solar energy was being promoted in a big way, Mr. Naidu added.
BSE MD Ashish Kumar Chauhan described Amaravati as land of opportunities and assured the stock exchange’s support for its development.
Principal Secretary Ajay Jain explained the process of Amaravati Development.
Later in the day, Mr. Naidu will have discussions with Tata Trusts chairman Ratan Tata and Tata Sons chairman N. Chandrasekharan, Reliance Industries chairman Mukesh Ambani and CEO P.M.S. Prasad, Godrej Industries MD Nadir Godrej, Mahindra World City Developers COO Sanjay Srivastava, Aditya Birla Group chairman Kumar Mangalam Birla, Welspun Group chairman B.K. Goenka, Lodha Group chairman Mangal Prabhat Lodha, Essel Group chairman Subhash Chandra, He will also interact withGreaves Cotton Limited CEO Nagesh Basavanahalli, Saint Gobain India MD Venkat Subramanian, Raheja Group president Neil Raheja, Tata International MD Noel N. Tata, and Haldia Petrochemicals Chairman Purnendu Chatterjee.