In a first of its kind in the country, a state government has floated the bonds in BSE to mobilize funds to construct the capital city. AP created history by floating Amaravati bonds in the Bombay Stock Exchange (BSE).
The APCRDA (Andhra Pradesh Capital Regional Development Authority) released the bonds to the tune of Rs 1300 Crore and the bonds got an overwhelming response in the BSE. In the first phase, only 600 bonds were kept for sale at 11 AM through ELectronic Bidding Platform and taking many by surprise, all the bonds were sold in a short time. And in the similar fashion, the second phase too witnessed a great response.
Overall, through this move, the government raised about Rs 2000 Crore. CRDA Commissioner Sridhar and officials are closely monitoring the sale of bonds through their office. CRDA officials would reveal who are the subscribers of the bonds only in the evening today.
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