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face: Till now you must have heard that the IPO of pharma, energy, IT companies is about to come. But a municipal corporation of Gujarat is going to issue its IPO. Surat Municipal Corporation will issue IPO for the first time. Surat Corporation will issue a public IPO of Rs 200 crore. An exercise has been started to collect funds for various environmental works. This announcement was made in the current year's budget by the municipality in Standing. Any important decision will be taken today. The face value for the IPO has been fixed at 1 thousand.
IPO Surat Municipal Corporation has started the process of issuing green municipal bonds worth Rs 200 crore. The proposal has been placed before the standing committee. A decision will be taken on this on Thursday. If approved, Surat Municipal Corporation will try to raise funds of Rs 200 crore from the public by issuing a public IPO.
Surat Municipal Corporation will issue green bonds worth Rs 200 crore
Efforts are on to increase the sources of income. Many development works are going on in Surat at this time. Then the municipality is trying to raise funds for new projects. It was announced in the municipal budget that the municipal government would issue green bonds worth Rs 200 crore for the work of environmental energy sector including solar, water and wind. That is, there was a plan to take a deposit of Rs 200 crore from the private sector, but since the interest rate on the deposit taken from the private sector was high, the MNP later changed it and the exercise of issuing a public issue was implemented.
decision will be taken today
On issuance of public issue, the municipality will be able to decide the interest rate, which will also save money for the municipality. After which this decision has been taken by the municipality. For this, a proposal for this work including the appointment of an agency has been placed before the standing committee, on which the rulers will take a decision on Thursday. According to further information, the face value for the IPO has been fixed at Rs 1,000. The five environmental projects of the municipality will receive Rs 215.98 crore from internal sources and Rs 198.20 crore from other sources.