Chief Minister M.K. Stalin on Monday officially launched the listing of Greater Chennai Corporation’s municipal bonds on the National Stock Exchange (NSE). He rang the ceremonial bell at a special event held at Kalaivanar Arangam in Chennai.The Chennai Corporation raised Rs 200 crore by issuing 10-year municipal bonds with a 7.97% interest rate. This money will be used for city development projects.
According to an official statement, the bonds received a huge response from investors. Through e-bidding on the NSE, bids worth Rs 421 crore were received—4.21 times more than the original offer of Rs 100 crore.
Officials said this strong response shows the public’s trust in Chennai Corporation’s financial management and its future development plans.
