Yogi to visit Mumbai to witness Lucknow Nagar Nigam Municipal Bond’s listing in BSE

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Lucknow, November 29: The Chief Minister of Uttar Pradesh Yogi Adityanath will visit Mumbai on December 1 on a two-day tour.

There will be a listing of Lucknow Municipal Corporation bonds in the presence of the Chief Minister on the morning of December 2 on the Mumbai Stock Exchange.

During this time, the Chief Minister Yogi will also meet prominent industrialists and celebrities of Bollywood and invite them to invest in UP.

Lucknow Municipal Corporation had recently issued a bond of 200 crores to make the capital smart by development, beautification and cleanliness etc.

Municipal Commissioner Ajay Kumar Dwivedi said that the Lucknow Municipal Corporation Bond has been launched on the Bombay Stock Exchange with a total mark of two hundred crores, subscribed over 225 per cent (450 crores). The 10-year bond closed at a very attractive rate with a bounce of 8.5 per cent, a record.

Significantly, this bond was announced by the Prime Minister Narendra Modi at the Investors Summit held in Lucknow in 2018.

It was then taken by the Chief Minister Yogi Adityanath as a challenge to launch as the first municipal bond under the ‘Amrit’ scheme in North India. The release of the Municipal Corporation in the Covid period is an achievement in itself.

A government spokesperson said that the Lucknow is the first municipal corporation in North India to issue such a bond. Encouraged by this, the government will also issue bonds of big civic bodies like Ghaziabad, Varanasi, Kanpur and Agra in the coming time.

Chief Minister will meet veteran industrialists in Mumbai

During his stay in Mumbai, the Chief Minister Yogi will also meet the country’s leading industrialists, Bollywood celebrities and big bankers.

During this time, the possibility of discussion about investment in UP is being expressed.

Prominent among them are N Chandrasekaran, chairman of Tata Sons, SN Subramanian, chairman of L&T, Niranjan Hiranandani of Hiranandani Group, Anand Pandit of the film industry, Manmohan Shetty, Boney Kapoor and Subhash Ghai.