NCD News of Indore Municipal NCD February 2023

Indore Municipal Corporation is coming up with Public Issue of Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) of the face value of ₹ 1000 each, for an amount of ₹122.00 Crores ('Base Issue Size') " with an option to retain oversubscription up to ₹244.00 Crores.

The Indore Municipal Corporation was constituted under Article 243Q(1)(c) of the Constitution of India, 1949, and established in the year 1956 under the Madhya Pradesh Municipal Corporation Act, 1956. IMC is the chief municipal body of Indore city. Presently, Shri Pushyamitra Bhargav is the Mayor, and Smt. Pratibha Pal, IAS, is the Commissioner (Nagar Aayukt) of the Corporation.

Allotment of the NCD's will be done on First Come First Serve Basis.

Indore Municipal NCD February 2023 is rated IND AA+/Stable by India Ratings and CARE AA; Stable by CARE Ratings Limited..

The issue opens on Feb 10, 2023 and closes for subscription on Feb 14, 2023. The shares of the company to be list at NSE.

The public issue of Indore Municipal Corporation opens on Feb 10, 2023 and closes for subscription on Feb 14, 2023.

The Indore Municipal NCD February 2023 are proposed to list at NSE.

Allotment of the NCD's will be done on First Come First Serve Basis.