Andhra Pradesh’s ‘Amaravati Bond’ officially listed On Bombay Stock Exchange
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Mumbai, Aug 27: Andhra Pradesh Chief Minister Nara Chandrababu Naidu’s pet project ‘Amaravati Bond’ today officially got listed on Bombay stock exchange. The Chief Minister rang the opening bell to mark the listing ceremony of 'Amaravati Bond 2018'.
Initially, in a bid to raise funds for the new state capital, Andhra Pradesh state government’s Capital Region Development Authority (CRDA) had issued ‘Amaravati Bond’ for Rs 1,300 crore. The bonds were oversubscribed by 1.53 times and reached the mark of Rs. 2,000 crore and finally got listed on the Bombay Stock Exchange.
This amount will be used for various infrastructure development projects at Amaravati. The state capital has been planned with the whopping budget of nearly Rs 27,000 crore where state government is working on various plans for greater public engagement.
Addressing the gathering here, the Chief Minister heaped praises on the investor for backing state government’s Amaravati Bonds. He maintained that the iconic state capital will take the economy of AP to another level. He went on saying that by 2022, the coastal state with the extraordinary growth of 12-13% will join the list of the top 3 developed states in India.
Informing about the future plans, Naidu said that world-class infrastructure would ensure the required eco-system for office spaces, hotels, tourism and other sectors. He urged investor to visit Amaravati to get first-hand information about the ongoing development. On this occasion, Ashish Kumar Chauhan, CEO and MD of BSE, Andhra Pradesh Finance Minister Yanamala Ramakrishnudu and other officials of BSE were present.
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