Bihar's first municipal bond listed on NSE; Patna civic body raises ₹200 crore

Résumé détaillé

The Patna Municipal Corporation issued a ₹200-crore municipal bond, marking Bihar's first listing on the National Stock Exchange to fund urban infrastructure projects.

Bihar has taken its first step into the municipal bond market, with the ₹200-crore municipal bond issued by the Patna Municipal Corporation (PMC) getting listed on the National Stock Exchange (NSE) on Tuesday (November 10). Chief Minister Samrat Choudhary inaugurated the listing ceremony at a function in Patna.

The listing marks the first time a municipal bond from Bihar has been listed on the NSE, providing the state's urban local bodies with an alternative avenue to raise funds for infrastructure development.

Addressing the event, Choudhary said the funds raised through the bond should be invested in revenue-generating projects that can ensure regular income and help repay the borrowing while creating additional resources for future development.

Choudhary thanked the NSE team for supporting Bihar's entry into the municipal bond market. He also called on other municipal corporations in Bihar to explore the municipal bond route and asked government departments to make better use of their assets and resources to identify new revenue streams.

The event was attended by Deputy Chief Ministers Vijay Kumar Choudhary and Bijendra Prasad Yadav, Urban Development and Housing Minister Nitish Mishra, Patna Mayor Sita Sahu, NSE officials, Chief Secretary Pratyaya Amrit and other senior government officials and industry representatives.

Highlighting the need for greater investment in infrastructure, the Chief Minister said the government was looking to expand the use of the Public-Private Partnership (PPP) model to accelerate development.

He cited the 26-km Marine Drive project in Patna, which took 13 years to complete using government funds, and said the state was now exploring a 126-km Marine Drive project through the PPP route. The proposed project is expected to attract investments of around ₹30,000 crore.

Choudhary also announced plans to explore operating newly constructed medical colleges and hospitals in the state under the PPP framework.

The state is also looking to attract…

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